Expect a worsening food crisis as the war in Ukraine disrupts global fertilizer markets, while extreme weather events around the world hinder food production.  

-          Food crisis will intensify next season as crop production threatened

-          Farmers delay fertilizer purchases in hope of lower prices

-          Expect supply chain crunch if farmers all order at once

-          Bad weather has hit crop production globally 

-          Lack of financing for farmers to purchase fertilizers

-          Food price inflation will suck money from consumers’ pockets

-          Likely to depress demand for non-essential goods, hitting chemicals demand  

-          Russia produces almost one fifth of global phosphate supply

-          Tight supply has pushed phosphate prices to record levels

-          Urea prices hit records as war began but declined as Russia found other markets

-          But urea prices are still 75-80% higher year on year and may remain elevated