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🚨✍️🇹🇷 🇷🇺 Turkey is going to Moscow to lock in much-needed Russian fertilizer supplies...
Deputy Agriculture Min. Ahmet Bagci and Russia’s Maxim Borovoy are set to sign a deal to raise nitrogen imports, including urea, after Erdogan and Putin spoke.
Gulf suppliers are tight, and Ankara NEEDS the product.
Turkey depends on imports for most of its chemical fertilizer. It uses about 7 million tons a year and buys roughly 2.7–2.8 million tons of urea abroad.
The Iran war and the disruption of the Strait of Hormuz cut those Gulf shipments abruptly.
Hormuz normally carries 40+% of the world's seaborne urea and ammonia.
Prices jumped hard this spring (urea roughly $480 to $720/ton at one point), and Turkish farm input costs rose 30–50%.
Ankara already zeroed import duties and stocked extra Russian product.
Russia is one of the world’s biggest nitrogen exporters and ships from the Black Sea and Baltic.
Source: Bloomberg
#worldnews #CryptoNewss
$BNB
$ETH
🚨✍️🇹🇷 🇷🇺 Turkey is going to Moscow to lock in much-needed Russian fertilizer supplies...
Deputy Agriculture Min. Ahmet Bagci and Russia’s Maxim Borovoy are set to sign a deal to raise nitrogen imports, including urea, after Erdogan and Putin spoke.
Gulf suppliers are tight, and Ankara NEEDS the product.
Turkey depends on imports for most of its chemical fertilizer. It uses about 7 million tons a year and buys roughly 2.7–2.8 million tons of urea abroad.
The Iran war and the disruption of the Strait of Hormuz cut those Gulf shipments abruptly.
Hormuz normally carries 40+% of the world's seaborne urea and ammonia.
Prices jumped hard this spring (urea roughly $480 to $720/ton at one point), and Turkish farm input costs rose 30–50%.
Ankara already zeroed import duties and stocked extra Russian product.
Russia is one of the world’s biggest nitrogen exporters and ships from the Black Sea and Baltic.
Source: Bloomberg
#worldnews #CryptoNewss
