As we discussed in our previous post, fertilizer prices have increased drastically, +230%, since May 2020. Now—driven upward by supply disruptions stemming from the Russia-Ukraine conflict—they are nearing the peak reached in August 2008 during the last major food price crisis.
Spiking fertilizer prices are likely to have major impacts on agriculture and food production—and thus, food security—around the world, as farmers struggle to pay for a key input and face potential supply disruptions, and governments look for ways to cushion the economic blow.
