Podera 360 (Brazil) published an article stating that strong demand and rising production costs boosted the price of fertilizers as early as 2021, generating food security concerns and inflating agricultural raw materials. Analysts estimated that the pressure would ease this year, but Russia’s arbitrary invasion of Ukraine came as another endearing factor. As a major force in the sector, Russia accounts for 15 percent of global fertilizer trade and 17 percent of total potash exports, according to IFPRI (see Press Briefing: Conflict in Ukraine and global food security). In addition, it supplies 20 percent of natural gas, a key component in the production of fertilizers. O Povo (Brazil).
How the war in Ukraine threatens agriculture around the world (Poder 360)
March 22, 2022