October 5, 2020 |
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(Bloomberg) — PhosAgro PJSC, Russia’s biggest producer of phosphate fertilizer, is calling for the government to help mitigate potentially billions in losses for the country’s raw-materials producers if Europe introduces a carbon tax.
Granules of monoammonium phosphate (MAP) sit inside a storage warehouse at the PhosAgro-Cherepovets fertilizer plant, operated by PhosAgro PJSC, in Cherepovets, Russia, on Wednesday, Aug. 9, 2017. Phosphate fertilizer prices may be supported in the 2H by “high season in India, pre-winter buying activity in the Northern hemisphere and risks of further potential production cuts in China,” PhosAgro chief executive officer Andrey Guryev said in a statement.
The European Union is looking at how a potential carbon tax could help meet its 2050 goal of climate neutrality. If imposed, the levy would hit imports, including raw materials and products produced in countries without duties on emissions, such as Russia. The European Commission, the bloc’s executive
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