The Russian Market of Mineral Fertilizers in Terms of the Pandemic

ABSTRACT

The purpose of this research is to study the problems and prospects for the development of the Russian market of mineral fertilizers in terms of the pandemic, along with their impact on the dynamics of agricultural development. The article explores the consequences of the pandemic, their impact on the development of the world market of mineral fertilizers and provides forecasts for the development of this sector in the current context. The focus is made on studying the characteristics of the world agrochemicals market, identifying the major global players in this market, along with defining Russia's place in it. The world trade structure of such countries as China, the USA and Russia is studied. The influence of internal problems and institutional transformations of states in the era of coronavirus and their impact on price and structural fluctuations in the agricultural fertilizer market is substantiated. The main emphasis is laid on the study of the factors that allow the Russian producers of agricultural fertilizers to provide full coverage of the needs of domestic farmers. The dynamics of exports and imports of agrochemicals in Russia in terms of the pandemic indicates a decline in foreign trade due to the reorientation to the domestic market. The article specifies the prospects for development of the Russian market of mineral fertilizers in the current economic conditions by increasing the volume of investment activity in the sector, despite the difficult circumstances of the pandemic. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.