
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
Partner of crime boss Steven Lyons arrested in Dubai - 2
From Certificate to Dollars: College Majors with Extraordinary Monetary Prizes - 3
4 Famous Gaming PCs of 2024: Execution, Versatility, and Advancement - 4
Becoming amazing at Systems administration: Individual and Expert Tips - 5
First part of major new German-Danish tunnel cleared for lowering
'Women on the floor, riddled with bullets': Ex-hostage Rom Braslavski recounts 'horrors' of Oct. 7
Everything you should know before booking a trip to Spain
Melodic Combination d: A Survey of \Unrecorded Music Energy\ Show
Benedict Cumberbatch takes on something even Sherlock can’t solve: male grief
Syrian army says recent drone attacks targeted its bases near Iraq, most shot down
Crime boss Steven Lyons set to be deported from Bali to Spain
Car Investigation: A Survey of \Past the Outside\ Car
4 Home Rec center Hardware Decisions for Little Spaces
Help Your Insusceptibility: Good dieting and Way of life Tips













