Fertilizer woes plant seeds of doubt beyond food (Reuters)
- Impact Area
Reuters published an article on fertilizer prices. Fertilizer shortages due to the war in Ukraine are hitting more than just food costs. On Wednesday lawn-care firm Scotts Miracle-Gro (SMG.N) issued a sales and profit warning as higher commodity costs continued to squeeze margins. It’s a warning of pain being spread across industries. A surge in fertilizer prices has shaken the global economy. Even in January before Russia invaded Ukraine, certain costs had more than doubled, according to IFPRI. Then it went up by nearly 20 percent when the war began.