The European Parliament voted on Thursday to impose prohibitive tariffs on fertilizers and certain farm produce from Russia and its ally Belarus to prevent a potential threat to EU food security and limit Russian funds for its war against Ukraine.
EU lawmakers back huge tariffs for Russia, Belarus fertilizer
EU sets prohibitive tariffs on Russian, Belarusian grain from July
Today European Union trade ministers agreed to impose prohibitive tariffs on cereals, oilseeds and derived products from Russia and Belarus from July 1, a move the bloc said would halt imports of these products.
EU plans to hit Russia, Belarus grain imports with tariffs
Commission aims to curb Russian income, prevent market distortions, placate farmers
The European Commission proposed on Friday imposing tariffs on imports of grain from Russia and Belarus in an attempt to prevent Moscow and its ally from distorting EU markets and placate farmers who have protested for months over cheap imports.
Nutrien misses quarterly profit estimates as potash prices plummet
Fertilizer demand expected to rise in Q4
Reuters — Nutrien fell short of analysts’ estimates for third-quarter profit on Wednesday, as lower potash prices weighed on the world’s biggest fertilizer producer. Potash prices have been falling after shipments from Belarus and Russia resumed. These exports had been significantly restricted last year following Western sanctions imposed on Russia in response to its invasion […] Read more
Nutrien cuts earnings forecast after quarterly profit misses estimates
High fertilizer prices seen dragging on demand
Reuters — Nutrien Ltd. on Wednesday cut its forecast for 2023 earnings as elevated fertilizer prices owed to Western sanctions on Russia and Belarus weigh on demand. U.S.-listed shares of the company fell 3.9 per cent in extended trading Wednesday as it also reported a lower-than-expected quarterly profit. Though fertilizer prices have dipped from record […] Read more
Belarus to allow Ukraine grain transit with no preconditions, U.N. says
Belarus still wants sanctions lifted off fertilizer
United Nations | Reuters — Belarus told the United Nations on Friday that it would allow, without preconditions, the transit of grain from Ukraine through its territory for export from Lithuanian ports, a U.N. spokesman said. Belarus, used by its ally Russia as a staging ground for Moscow’s Feb. 24 invasion of Ukraine, said in […] Read more
Direct compensation for fertilizer tariffs not on table
Eastern farm groups call for help ahead of fall seeding
Farmers in Eastern Canada who rely on imports of Russian-made fertilizers aren’t going to see direct compensation for the federal government’s general tariff on those products. A clutch of farmer and ag industry groups on July 15 put forward a new request to Ottawa for compensation to farmers “negatively impacted” by a 35 per cent […] Read more
Nutrien to further boost potash output amid global shortage
Company will also speed up nitrogen capacity boosts
Reuters — Nutrien, the world’s largest fertilizer producer, said Thursday it will increase its Canadian potash production by 20 per cent to an annual 18 million tonnes by 2025, helping to address tight supplies that have contributed to a global food shortage. Potash prices have soared since the West imposed sanctions against Russia for Moscow’s […] Read more
Ukraine not ready to export grain via Belarus, Zelenskiy says
Kyiv | Reuters — Ukraine is not ready to agree to a plan to export its grain by rail across Belarus for shipment via the Baltic Sea to bypass Russia’s blockade of its Black Sea ports, President Volodymyr Zelenskiy said on Monday. Zelenskiy told a news conference in the capital Kyiv that there could be […] Read more
U.N. chief in talks on restoring Ukraine grain exports
Contact made amid global food crisis
United Nations | Reuters — U.N. Secretary-General Antonio Guterres said on Wednesday that he is in “intense contact” with Russia, Ukraine, Turkey, the United States and the European Union in an effort to restore Ukrainian grain export as a global food crisis worsens. “I am hopeful, but there is still a way to go,” said […] Read more
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