Egypt replaces Russia as fertilizer supplier to Europe

Egypt has replaced Russia’s place as a supplier of fertilizers to the European markets, with exports worth €1.5 billion in the first 10 months of 2022, Asharq Business reported on December 21st, citing a statement by the Egyptian Chemical and Fertilizers Export Council.

Egyptian exports of fertilizers to Europe in the 10-month period grew from €521 million in the same period of 2021 due to the sanctions imposed on Russia because of the war in Ukraine, resulting in an unprecedented increase in the prices of natural gas in Europe, according to the statement.

The council reported, citing a report by the European Commission, that fertilizer exports to Europe surged by 187.5%, as France topped importers with €375 million, followed by Italy, Spain, and Greece with €249 million, €183 million, and €149 million, respectively.

According to Bloomberg, Russia is one of the biggest exporters of several types of low-cost fertilizers. Higher prices of natural gas led to cutting production capacity for key players in the European fertilizers industry.