MINSK, 8 December (BelTA) – A shortage of potash fertilizers in the market will push up food prices, Member of the Standing Commission on Industry, Fuel and Energy Complex, Transport and Communication of the House of Representatives Andrei Strunevsky told reporters, BelTA has learned.
“The fifth round of sanctions can only benefit the countries that introduced them. And we understand that the U.S. sanctions have no direct jurisdiction in the EU,” Andrei Strunevsky said.
The MP explained that the sanctions affected the global potash industry. “Belarus holds 20% of the world market of potash fertilizers. What will this entail? Naturally, any deficit of potash fertilizers on the global market will push up fertilizer costs and consequently food prices in all countries of the world. Of course, America, Great Britain, France, Germany will find a way out, but developing countries will be hit hard by the food shortage. We have an opportunity, in collaboration with Russia, to redirect our product flows, for example, to the Northern Route through Murmansk. Thus, China and India will get their fertilizers. Lithuania has not commented on it yet. They say the U.S. sanctions are not binding,” the MP said.
Andrei Strunevsky emphasized that amidst the Western sanctions Belarus can increase food exports. “The export of our foodstuffs is estimated at more than $6 billion. According to economists, by 2025 we can grow the export up to $7 billion. Some countries that impose sanctions need to think what goals they pursue, what countries they want to make dependent on food imports. We will honor in full our commitments to customers from Brazil, India and China. Well, I would say, Lithuania is just shooting itself in the foot losing multimillion-dollar contracts from our country,” the MP added.
