Azerbaijan sharply increases exports of nitrogen fertilizers and lowers prices

12:40 - 24.05.2024

May 24, Fineko/ Azerbaijan has again increased exports of nitrogen fertilizers abroad in the first quarter of 2024.

ABC.AZ reports that Azerbaijan exported 141,890 tons of mineral or chemical nitrogen fertilizers abroad.

The value of exports reached $26.94 million. Over Q1 of 2023, exports of these fertilizers amounted to 93,620 tons, or $27.39 million.

Although exports apparently increased by 51%, its value fell by 1.6%. The reason for this is the prices. Last year, exported nitrogen fertilizer cost $293 per ton. This figure is about $190 this year. Obviously, $103 per ton in exports makes exports cheaper this year. This led to a drop in country's total export revenues by $14.61 million.