Ukraine invasion could threaten global food supply
Russia’s invasion of Ukraine is now threatening the global food supply.
A Norwegian fertilizer maker says that 25 percent of Europe’s crop nutrients comes from Russia. Yara is one of the world’s biggest fertilizer producers, and it supplies Ukraine’s ag sector.
The company says that the international community needs to reduce dependence on Russian raw materials for agriculture. It warns one consequence is only the most privileged parts of the world will get access to enough food.
Despite the turmoil, U.S. fertilizer prices remain evenly mixed last week.
For the first time in more than a year, prices for four fertilizers were slightly lower, while others were slightly higher.
Urea saw a decrease with an average price of $885 dollars per ton, but potash was higher at $815 dollars per ton, 10-34-0 stayed steady at $837 dollars per ton, and UAN32 reached its all-time high at $703 dollars per ton.