Russia and Türkiye will sign a memorandum on fertilizer supplies

Moscow and Ankara will soon sign a memorandum of understanding, which will allow Turkey to seriously increase purchases of Russian nitrogen fertilizers. Bloomberg reported this.

In addition, this will allow Turkey to overcome difficulties with the supply of urea from producers in the Gulf countries. It is expected that the future agreement will free Ankara from Russian export restrictions on nitrogen and phosphate fertilizers, as well as ammonia. As a result, Türkiye will be provided with fertilizers and raw materials ahead of the sowing campaign.

In this regard, the agency recalled that Russia is the second largest producer of fertilizers and supplies about 20 percent of the world's agricultural products. However, earlier Moscow established quotas for the export of fertilizers and also suspended supplies of ammonium nitrate to foreign markets.

In turn, Türkiye annually produces about five million tons of fertilizers, while domestic demand is about seven million tons.