Russian producer urges India to drop fertilizer import duty

The appeal came after Indian Prime Minister Narendra Modi discussed fertilizer imports during his visit to Moscow.

India, the world's second-biggest fertilizer importer, sourced a quarter of all its imported fertilizer from Russia in 2023. Phosagro noted that its exports to India grew six-fold in 2022 alone, following Western sanctions.

Modi thanked Russian President Vladimir Putin for supporting Indian farmers with stable supplies of fertilizers. During the talks, Russia and India set a bilateral trade target of $100 billion by 2030, up from the current $65 billion.

"We are ready to boost fertilizer supplies further, but our capacity is limited by existing trade barriers, which raise the cost of our products for our Indian customers," Phosagro said in a statement.

The company suggested that one way to remove the duty for Russian producers would be to create a free trade zone between India and the Eurasian Economic Union, which comprises Russia and four other former Soviet states.

In a bilateral statement after the talks in Moscow, Russia and India agreed to continue cooperation in the field of sustainable fertilizer supplies to India, based on long-term contracts between companies.