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10-11-2021, 06:47 AM
Bloomberg | Nov 04, 2021
By Elizabeth Elkin and Tatiana Freitas
The problems couldn’t have come at a worse time for agricultural supply chains. Global food prices have surged more than 30% in the past 12 months to reach a decade high as climate change ravages crops and the pandemic’s blow snarls production. Meanwhile, about a 10th of the world already doesn’t have enough to eat. The fertilizer crisis means major staple crops -- corn, rice and wheat -- are in further jeopardy, sending the Bloomberg Grains Spot Subindex up about 4% in the past month.
Blame the energy crunch.
Nitrogen-based fertilizers, the most important crop nutrients, are made through a process dependent on natural gas or coal. Those fuels are in extremely tight supply, forcing fertilizer plants in Europe to cut back on production or even, in some cases, close.
https://www.farmprogress.com/fertilizer/...ces-higher
By Elizabeth Elkin and Tatiana Freitas
The problems couldn’t have come at a worse time for agricultural supply chains. Global food prices have surged more than 30% in the past 12 months to reach a decade high as climate change ravages crops and the pandemic’s blow snarls production. Meanwhile, about a 10th of the world already doesn’t have enough to eat. The fertilizer crisis means major staple crops -- corn, rice and wheat -- are in further jeopardy, sending the Bloomberg Grains Spot Subindex up about 4% in the past month.
Blame the energy crunch.
Nitrogen-based fertilizers, the most important crop nutrients, are made through a process dependent on natural gas or coal. Those fuels are in extremely tight supply, forcing fertilizer plants in Europe to cut back on production or even, in some cases, close.
https://www.farmprogress.com/fertilizer/...ces-higher
