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The actual high food prices are still to come. The spike in the price of natural gas in Europe and Asia caused shutdowns in a few types industry, one of which i
by wcoenen 5y ago
The actual high food prices are still to come. The spike in the price of natural gas in Europe and Asia caused shutdowns in a few types industry, one of which is fertilizer production [1]. It will take some time for the effect of that to appear in food prices.
Some countries are already putting restrictions on fertilizer exports[2].
[1] https://www.theguardian.com/business/2021/sep/16/fears-for-uk-recovery-as-record-energy-prices-shut-fertiliser-plants https://www.theguardian.com/business/2021/sep/16/fears-for-u...
[2] https://www.reuters.com/business/energy/nitrogen-fertilizer-shortage-threatens-cut-global-crop-yields-cf-industries-2021-11-04/ https://www.reuters.com/business/energy/nitrogen-fertilizer-...