Key Highlights:
- The fertilizer prices have increased which has caused the farmers worldwide to use and reduce the amount of land they are planting, which might lead to food shortage.
- In the U.S. the price of fertilizer is expected to jump by 12% this year.
- The farmers are switching to crops that require fewer nutrients or plan to use less fertilizer.
The fallout between Ukraine and Russia conflict has also affected the agricultural industry prompting a warning of food shortage. The fertilizer prices have increased which has caused farmers worldwide to use and reduce the amount of land they are planting. Also, some of the agricultural industry veterans have warned of food shortages.
The western sanctions on Russia are one of the major exporters of potash, ammonia, urea, and other soil nutrients. There have been disrupted shipments of these key inputs across the globe. Fertilizers are key to high yields but with the shortage of supply, the farmers are scrambling to adjust.
Farmers reacting to Fertilizer crisis
Brazil is an agricultural powerhouse. Due to the shortage of fertilizer supply, the farmers are applying less fertilizer to the corn. Moreover, it is also reported that some of the federal legislators are pushing to open protected indigenous lands for the mining of potash.
The small farmers from Kenya and Zimbabwe are going back to using manure for crop nourishment. A canola farmer from Canada has already stockpiled fertilizer for the 2023 season anticipating many high rates of fertilizers ahead.
The farmers around the world are working on coping with the fertilizer price hike. According to the data from the American Farm Bureau Federation and U.S. Department of Agriculture (USDA) in the U.S. the fertilizer price is expected to jump by 12% this year.
Fertilizers Shortage affecting the Yield
The farmers are switching to crops that require fewer nutrients or plan to use less fertilizer. This can drastically affect the quality of the yield pushing us into a food crisis.
Recently, on account of fears of food insecurity, Peru declared a state of emergency in its agriculture sector. Due to the rising fertilizer prices, Peru’s planted areas have fallen by 0.2% since August.
