Fertilizer Prices Surge as Ukraine War Cuts Supply, Leaving Farmers Shocked

[dalton99a]

https://www.wsj.com/articles/fertilizer-prices-surge-as-ukraine-war-cuts-supply-leaving-farmers-shocked-11648114381

Fertilizer Prices Surge as Ukraine War Cuts Supply, Leaving Farmers Shocked
Smaller harvests loom from Argentina to Indonesia, and developing countries are bracing for higher food costs; ‘It’s like a scary movie’
By Jon Emont in Singapore and Silvina Frydlewsky in Buenos Aires
March 24, 2022 5:33 am ET

In his nine years selling fertilizer to corn and rice farmers in West Africa, Malick Niang says he has never seen such a severe supply crunch — or such high prices.

Since Russia invaded Ukraine, shipping companies have avoided docking at St. Petersburg, Russia, to collect goods, Mr. Niang said. That, together with the impact of the West’s financial sanctions against Moscow, means fertilizer exports from Russia—the world’s largest producer — have fallen sharply. Mr. Niang contacted sellers elsewhere, such as in Senegal and Morocco, but was told their order books are full until the end of the year.

“Maybe we will find one or two options different from Russia, but it’s going to be very expensive,” he said.

Fertilizer prices were already high before the war. They have now reached record levels amid a precipitous drop in Russian supply, according to CRU Group, which analyzes commodity markets. At the same time, more-expensive natural gas, another Russian export and a crucial ingredient in fertilizer-making, has led European fertilizer factories to scale back production.

The result is that fertilizer is about three to four times costlier now than in 2020, with far-reaching consequences for farmer incomes, agricultural yields and food prices.

[cornball 24]

1. Here's a solution! Get the repukes in congress lined up as they spew nothing but shit.