4 ms·
Logistics I think is large part of it. Another part is going to be the fertilizer shortage. > Russia also exported 11% of the world's urea, and 48% of the amm
by kyrra 4y ago
Logistics I think is large part of it. Another part is going to be the fertilizer shortage.
> Russia also exported 11% of the world's urea, and 48% of the ammonium nitrate. Russia and Ukraine together export 28% of fertilizers made from nitrogen and phosphorous, as well as potassium, according to Morgan Stanley.
https://www.cnbc.com/2022/04/06/a-fertilizer-shortage-worsened-by-war-in-ukraine-is-driving-up-global-food-prices-and-scarcity.html https://www.cnbc.com/2022/04/06/a-fertilizer-shortage-worsen...
- tyrfing 4y agoBelarus potash exports, 18% of global supply, were also cut off in January due to US sanctions. This will force their dependence on Russia, with a Belarusian port on Russian soil, and for now they are struggling to export any of it. https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/belarus-struggling-to-find-path-to-market-for-potash-amid-us-sanctions-68990380 https://www.spglobal.com/marketintelligence/en/news-insights... https://www.bloomberg.com/news/articles/2022-02-17/belarus-potash-maker-roils-fertilizer-markets-with-force-majeure https://www.bloomberg.com/news/articles/2022-02-17/belarus-p... Here's some perspective on current fertilizer prices: https://blogs.worldbank.org/opendata/fertilizer-prices-expected-remain-higher-longer https://blogs.worldbank.org/opendata/fertilizer-prices-expec...