Another reason food prices are soaring

Global food prices will rise by another 8.5% by 2027, according to the UN’s worst-case scenario calculations.

Some fertilizers have surged 300% since September 2020, according to the American Farm Bureau.

“last year [fertilizer] It was about $270 a ton, and now it’s over $1,400 a ton,” said Megan Kaiser of Kaiser Family Farms and Farmer Director of the United Soybean Board in NBC’s “Nightly News with Lester Holt.” is talking to

“It’s scary. It’s a little maddening considering the amount of risk our family farm is taking right now.”

Farmers find themselves forced to pass on some of these costs to their customers, resulting in higher food prices.

Fertilizer is essential for crops. Without fertilizer, plants may not get the nutrients they need to produce the yields needed to meet global demand.

According to the International Fertilizer Association, only about half of the world’s population can be fed without fertilizer.

Farmers are trying to adapt to this new normal. Farmers surveyed about what they plan to grow in spring 2022 said they were eyeing more soy, according to USDA data. This may be because legumes do not require as much fertilizer to grow as corn.

The spike in fertilizer prices began in 2022 when Russia invaded Ukraine.

“It’s amazing how dependent the world is on local fertilizers talking about Russia and Ukraine,” Johanna Mendelsohn Forman, an adjunct professor at the American University School of International Services, told CNBC.

According to Morgan Stanley, the region is responsible for at least 28% of global fertilizer exports, including nitrogen-, potassium- and phosphorus-based fertilizers.

Rising natural gas prices are also contributing to the price surge.

Joe Handelsman, director of the Wisconsin Discovery Institute at the University of Wisconsin-Madison, told CNBC:

This is because fossil fuels are used in the fertilizer manufacturing process, which is one of the reasons they can contribute to climate change.

Additionally, if farmers use too much fertilizer, the chemicals can run into waterways, causing environmental damage, pollution, and disease.

“I’m not saying fertilizer is bad…our soil has nutrients naturally,” said Ronald Vargas, executive director of the United Nations Global Soil Partnership. [soil] If they are naturally depleted, we need to find a way to make those nutrients available.

Watch the video above to learn about the global fertilizer crisis amid supply chain woes and the impact of climate change, and explore potential solutions on the horizon.

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