
The war in Iran has resulted in a 30-40% spike in the cost of mineral fertilizer since the start of the year, threatening international food prices, according to German experts.
"World market prices for nitrogen fertilizer are increasingly approaching the peak levels we saw at the start of Russia's war against Ukraine [in February 2022]," said Philipp Spinne, managing director of the German Raiffeisen Association (DRV).
In Europe, however, consumers have not yet directly felt the effects because many farmers had already purchased their spring fertilizer before the Iran war began, the Bavarian Farmers' Association told dpa.
But should the war drag on, production costs in Germany and other countries are likely to rise, and with them, producer prices, it warned.
Four years ago, the threat to global food security feared by some experts did not materialize.
This was partly because Russia – a leading fertilizer producer – benefited from the invasion of its neighbour and actually increased its fertilizer exports.
The European Union has since gradually introduced tariff increases on Russian nitrogen fertilizers.
High energy prices are primarily driving the pricing spike, with gas prices accounting for up to 90% of the costs of ammonia and nitrogen production, said Germany's Agrar industry association.
Therefore, if gas becomes more expensive, fertilizer prices automatically rise. But if farmers use less fertilizer, crop yields suffer as a result.
LATEST POSTS
- 1
Instructions to Warmly greet Certainty and Appeal - 2
UN chief warns he could refer Israel to ICJ over laws targetting UNRWA - 3
Ukraine confirms defence and energy ministers at second attempt - 4
My Excursion to Monetary Autonomy: Awesome ways to save cash - 5
Canada's Serene Lakeside Mountain Village Is A Breathtaking Oasis For Outdoor Adventure
Stop the ‘good’ vs ‘bad’ snap judgments and watch your world become more interesting
Putin, Netanyahu discuss Middle East in phone call, Kremlin says
Mating injuries may lead scientists to identify dinosaurs’ sex
NI economy losing momentum due to Iran crisis
Far-right German youth group delegates seek deportations, remigration
Vote in favor of your Favored kind of footwear
‘It’s Israeli policy’: Report reveals abuse of Palestinians in prisons
The Specialty of Compromise: Examples from Reality
Top 20 Style Brands for Pioneers













