Russia increases export quota for nitrogen fertilizers

Russia on Monday raised the export quota for nitrogen fertilizers by 750,000 tons.

Under a decree signed by Prime Minister Mikhail Mishustin, the increased quota will be valid until the end of the year, according to a government statement.

The quota is now just over 9 million tons, while the restrictions do not apply to supplies to Georgia's breakaway regions of Abkhazia and South Ossetia, the statement said.

Given the "saturation of the domestic market," the decision gives Russian fertilizer producers "the opportunity to send additional volumes for export," the statement added.

It said the Industry and Trade Ministry has been "instructed to distribute additional volumes among exporters."