Russian fertilizer makers expect to boost local sales in the fourth quarter, even after the country’s worst drought in at least 50 years slashes agricultural output, as farmers seek to buy the material before prices increase.
“From 2011, domestic prices will definitely rise as prices for natural gas used to make nitrogen-based fertilizers are scheduled to increase, as well as railroad and electricity tariffs,” Igor Kaluzhsky, executive director of the Russian Association of Fertilizer Producers, said Friday.
(Bloomberg)
