Fertilizer shortages threaten to spike food costs
(Worthy News) – Prices for fertilizers are spiking across the world, with per-ton rates for some products at or near record highs, a market reality that threatens to exacerbate rising consumer costs for everything from coffee to corn and rice.
A host of factors, including extreme weather events, elevated natural gas prices, and supply chain disruptions are raising the price point for the key plant foods and making them less and less affordable for growers, analysts say.
The average price of UAN32, a liquid nitrogen-based fertilizer used widely for growing grain and other grass crops, stood at $522 per ton in the fourth week of October, according to U.S. market monitor DTN. The product jumped 18% over the average from September to reach its highest price in the 13 years DTN has gathered data from retailers. [ Source: Washington Examiner (Read More…) ]:
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