EU suspends import duties on nitrogen fertilizers

The Council of the EU has decided to suspend import duties for one year on key nitrogen fertilizers, including urea and ammonia, to support the agricultural sector. This measure is expected to save approximately 60 million euros in import costs for European farmers and the fertilizer industry. The decision aims to address the significant rise in fertilizer prices observed since 2021, which has increased food production costs. Furthermore, the initiative seeks to reduce the European Union's reliance on Russia and Belarus for these products while diversifying supply chains. In 2024, the EU imported 2 million tons of ammonia, 5.9 million tons of urea, and 6.7 million tons of nitrogen-containing mixtures. To balance the interests of EU producers, the duty suspension applies only to products not already exempt under Most-Favored-Nation (MFN) tariffs. The total volume covered by this suspension is limited to the 2024 MFN import volume, plus an additional 20 percent of the quantities previously sourced from Russia and Belarus. The measure was confirmed by Cyprus Finance Minister Makis Keravnos during EU meetings.