Fertilizer prices have risen and remain volatile, concealed behind the worst global recession in a decade. As the agricultural season begins this august, food security is jeopardized. So yet, the Ukrainian conflict has mostly harmed countries that import wheat and grain.
Many countries, however, including some world's top food producers, are net fertilizer users. Continued high fertilizer prices may affect a broader various crops, include rice, a staple that has not yet seen price rises as a result of the conflict.
To avoid prolonged the food crisis, we must move quickly to make chemicals more accessible and affordable.
The World Bank's fertilizer price index rose almost 15% year on year; prices have more than doubled in the previous two years. High ingredient costs, supply disruptions, and trade restrictions are driving the latest spike.
Oil prices began to climb last fall as relations in Ukraine and Russia grew, resulting in widespread downstream processing reduction – an important component of nutrient fertilizers. Similarly, rising energy prices in Brazil, the country's main source of ammonia production, forced fertilizer facilities to curtail output.
To relieve the current food crisis, quick action is essential to safeguard food supply by increasing the availability and affordability of fertilizer. There are a number of methods to this.
First and foremost, countries should eliminate trade restrictions or bans on chemical exports. Export restrictions aggravate the problem by putting chemicals farther out of touch for the poorer emerging regions, which have the highest incidence of undernutrition. As of mid-June, there were 310 open market measures affecting food related fertilizers in 86 countries, with around 40% being restrictive.
Second, fertilizer use should be reduced. This can be done by giving farmers with sufficient financial assistance that does not exacerbate misuse. Nitrogen usage efficiency typically varies between 30 as well as 50 percent. Conversely, the European Union Nitrate Expert Panel estimates that nitrogen usage efficiency is over 90%. Subsidies that stimulate excessive fertilizer use also increase waste.
Third, we must reinvest in innovation in order to build techniques and newer technologies that will help in boosting fertilizer output per kilogram of fertilizer utilized. This entails investing in knowledge to ensure that specific crops receive the appropriate amount and kind of fertilizer.