The share of Georgia’s nitrogen fertilizers in the export basket increased by 251%. Fertilizers from Georgia are currently exported to 16 countries around the world, including several markets for the first time this year.
Peru ranks first among the export markets of nitrogen fertilizers. The Latin American country was not included in the key trading partners’ list last year. Fertilizers worth of $ 60.8 million were exported beyond the ocean. Romania ranks 2nd among the export markets, while Ukraine is in the top three - with fertilizers worth of $ 60.8 million.
Within 4 months of 2022, Georgian nitrogen fertilizers were exported to the following countries:
1. Peru - $ 60.88 million
2. Romania - $ 14.4 million
3. Ukraine - $ 13.03 million
4. India - $ 12.14 million
5. Armenia - $ 7.2 million
6. Ghana - $ 6.5 million
7. Mozambique - $ 4.5 million
8. Nigeria - $ 3.6 million
9. Tanzania - $ 3.2 million
10. Mali - $ 0.89 million
Western sanctions posed against Russia in April have hampered the supply of fertilizers to the world. Product shortages and high prices for natural gas, which is a major component in fertilizer production, have led to rising prices. As the World Bank data show, fertilizer prices have risen by almost 30% since the beginning of 2022, following an 80% increase last year.
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