The Global Fertilizer Shortage Means That Far Less Food Will Be Grown All Over The Planet In 2022
April 9th, 2022Via: Economic Collapse Blog:
A fertilizer shortage has added to growing concerns about the Ukraine war’s impact on the price and scarcity of certain basic foods.
Combined, Russia and Belarus had provided about 40% of the world’s exports of potash, according to Morgan Stanley. Russia’s exports were hit by sanctions. Further, in February, a major Belarus producer declared force majeure — a statement that it wouldn’t be able to uphold its contracts due to forces beyond its control.
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.
