MOSCOW, November 6 The mechanism of flexible export duties on mineral fertilizers is now balanced, says Deputy Prime Minister – Head of the Ministry of Industry and Trade of the Russian Federation Denis Manturov .
“We believe that today this was a fair decision for everyone, it was balanced,” he said on the sidelines of the Russia exhibition in the Made by Us pavilion at VDNKh, answering a question about a possible revision of flexible export duties on fertilizers.
As reported by the Ministry of Economic Development, the ministry received an appeal from fertilizer producers regarding the abolition of duties for ammonia and methanol producers and the reduction of duties on potash from 10% to 3%.
From October 1 until the end of 2024, the Russian government introduced flexible export duties linked to the ruble exchange rate to protect the domestic market. The duty ranges from 4% to 7% depending on the exchange rate of the national currency. So, at an exchange rate of 80 to 85 rubles per dollar, the duty will be 4%, at an exchange rate of 85-90 rubles – 4.5%, at a dollar above 90 rubles and below 95 rubles – 5.5%. The highest duty of 7% applies when the US currency exchange rate is above 95 rubles. When the exchange rate is below 80 rubles, the flexible duty is reset to zero.
The flexible duty, in particular, covers the export of electricity to non-CIS countries, the export of copper, zinc, aluminum, gold, diamonds, polymers and rubbers. Duties are also imposed on the export of construction materials, such as crushed stone, lime, marble and stone. At the same time, a special regime applies for fertilizers. The duty on their export at a dollar exchange rate of 80 rubles is 10%, and below this threshold – 7%, while the minimum duty depends on the type of fertilizer.
The international exhibition and forum “Russia” takes place from November 4, 2023 to April 12, 2024 at VDNKh. All regions of Russia present their expositions, which reflect the main technological, sociocultural and sports achievements.