Forwarded from Ice Age Farmer
Russia just joined China in STOPPING their exports of fertilizer.
This news underscores my report from yesterday, Farmers Panic, Can’t Get Supplies to Grow Food — meaning things are going from bad to worse:
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Russia plans to impose a six-month quota on some fertilizer exports to safeguard local supplies and limit costs for farmers after the energy crisis sent nitrogen nutrient prices soaring.
The move -- covering exports of nitrogen and complex fertilizers containing nitrogen -- comes as nutrients prices have surged globally as soaring gas prices boost production costs and force some plants to cut production. That risks curbing harvests in the year ahead and accelerating food inflation.
European farmers have already voiced concern about securing fertilizer supplies for the spring, when they’re applied to grain fields to boost yields and quality. French farm groups said last month nitrogen prices have tripled and there’s a risk of shortages to come. China has also curbed exports to ensure enough domestic supply.
“A Russian export quota will tighten further global markets already scrambling for supply,” said Alexis Maxwell, an analyst at Green Markets, a business owned by Bloomberg. “Russia’s close proximity to the U.S. has meant it is a growing nitrogen supplier to the U.S.”
#fertilizer
https://finance.yahoo.com/news/russia-slap-quotas-fertilizer-exports-131808345.html
This news underscores my report from yesterday, Farmers Panic, Can’t Get Supplies to Grow Food — meaning things are going from bad to worse:
____
Russia plans to impose a six-month quota on some fertilizer exports to safeguard local supplies and limit costs for farmers after the energy crisis sent nitrogen nutrient prices soaring.
The move -- covering exports of nitrogen and complex fertilizers containing nitrogen -- comes as nutrients prices have surged globally as soaring gas prices boost production costs and force some plants to cut production. That risks curbing harvests in the year ahead and accelerating food inflation.
European farmers have already voiced concern about securing fertilizer supplies for the spring, when they’re applied to grain fields to boost yields and quality. French farm groups said last month nitrogen prices have tripled and there’s a risk of shortages to come. China has also curbed exports to ensure enough domestic supply.
“A Russian export quota will tighten further global markets already scrambling for supply,” said Alexis Maxwell, an analyst at Green Markets, a business owned by Bloomberg. “Russia’s close proximity to the U.S. has meant it is a growing nitrogen supplier to the U.S.”
#fertilizer
https://finance.yahoo.com/news/russia-slap-quotas-fertilizer-exports-131808345.html
Fertilizer prices spike 43% to fresh record high as supplies tighten. Rising costs of farm inputs will continue to send food prices soaring.
https://www.bloomberg.com/news/articles/2022-03-28/fertilizer-price-surges-43-to-fresh-record-as-supplies-tighten
#fertilizer #FoodPrices #inflation
https://www.bloomberg.com/news/articles/2022-03-28/fertilizer-price-surges-43-to-fresh-record-as-supplies-tighten
#fertilizer #FoodPrices #inflation
Bloomberg.com
Fertilizer Price Surges 43% to Fresh Record as Supplies Tighten
Fertilizer prices continue to spike to records as Russia’s invasion of Ukraine puts a massive portion of the world’s fertilizer supply at risk, adding to concerns over soaring global food inflation.
Forwarded from Ice Age Farmer
It is a global situation—not just Europe:
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UN Food Official Warns Fertilizer Affordability Crisis Could Slash Global Grain Production By 40%
Global fertilizer shortages threaten to starve a planet as prices are too high for some farmers ahead of the next planting season.
That's the view of Maximo Torero, chief economist from the Food & Agriculture Organization (FAO) of the United Nations (UN), who told Bloomberg TV that elevated fertilizer prices could decrease global grain production by upwards of 40% in the next planting season.
#fertilizer #FoodShortages
https://www.zerohedge.com/commodities/un-food-official-warns-fertilizer-affordability-crisis-could-slash-global-grain
—
UN Food Official Warns Fertilizer Affordability Crisis Could Slash Global Grain Production By 40%
Global fertilizer shortages threaten to starve a planet as prices are too high for some farmers ahead of the next planting season.
That's the view of Maximo Torero, chief economist from the Food & Agriculture Organization (FAO) of the United Nations (UN), who told Bloomberg TV that elevated fertilizer prices could decrease global grain production by upwards of 40% in the next planting season.
#fertilizer #FoodShortages
https://www.zerohedge.com/commodities/un-food-official-warns-fertilizer-affordability-crisis-could-slash-global-grain
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