Under the Biden administration, the United States has marked a notable increase in fertilizer imports from Russia, with official figures revealing a record acquisition worth $944 million from January to July this year, as reported by the U.S. Statistics Service.
This is despite President Joe Biden’s attempts to punish Russia with sanctions for its role in the country’s conflict with Ukraine.
The increase signifies a 5% elevation compared to the corresponding period in the preceding year, 2022, RT News points out.
However, a substantial decline was observed in July, with import volumes plummeting to a third of those in June, representing the most considerable drop since August 2021.
The sharp fall in July imports brings the figures to their lowest since the previous year, underlining the fluctuations in the import landscape.
Canada maintained its position as the principal supplier of fertilizer to the United States, with exports reaching $2.8 billion within the first seven months of this year, RT notes.
Russia secures its place as the second-largest provider, contributing significantly to the U.S. fertilizer market.
Saudi Arabia, Israel, and Qatar are also noted as prominent suppliers, rounding out the list of the top five sources for the United States.
Renowned as the world’s preeminent fertilizer producer, Russia accounts for approximately 15% of global consumption.
Interestingly, the Western sanctions imposed have not directly impacted Russian fertilizer exports, allowing Moscow to proficiently redirect its deliveries toward the Asian market.
Andrey Guryev, the head of the Russian Fertilizer Producers Association (RAPU), in May, projected a potential recovery in export volumes to pre-sanctions levels, estimating a reach of “some 38 million tons by the end of the year.”
This estimation aligns with Russia’s substantial annual fertilizer production, which approximately stands at 55 million tons.
