Russia's Ministry of Trade called on fertilizer producers in the country to temporarily stop exporting the commodity, Reuters reported March 4.

"The ministry had to recommend Russian producers temporarily suspend export shipments of Russian fertilizers until carriers resume rhythmic work and provide guarantees that Russian fertilizer exports will be completed in full," the ministry said in a statement.

"Failures in fertilizer shipments could have a direct impact on national security in several countries and cause serious food shortages for hundreds of millions of people already in the medium term," the ministry explained.

Russia is a major exporter of low-cost fertilizers, with top players including PJSC PhosAgro, JSC UCC Uralchem, PJSC Uralkali, PJSC Acron and EuroChem Group AG.

Russia, which has been subject to economic sanctions due to its invasion of Ukraine, produces more than 50 million tonnes of fertilizers per year, representing about 13% of the global total.

In early February, Russia banned exports of ammonium nitrate from Feb. 2 to April 1, S&P Global Platts reported. The move was widely expected, as the government has been working to guarantee affordable supplies for domestic farmers due to the spike in global fertilizer prices.

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