Russia’s revenue from fertiliser exports soared last year despite a decline in sales volumes, as crop nutrient prices rose sharply after its invasion of Ukraine.
In the first 10 months of 2022, Russian fertiliser exports jumped 70 per cent to $16.7bn compared to the same period in 2021, according to UN data.
Import statistics from Moscow’s trade partners show that, in volume terms, overseas sales by the world’s largest fertiliser exporter only fell 10 per cent from the same period the previous year, analysis by the UN Food and Agriculture Organization found.
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