Apart from deepening supply chain disruptions and higher oil and natural gas prices, Russia’s invasion of Ukraine has driven fertilizer prices to record highs. According to British commodity consultancy CRU, prices of critical raw materials such as nitrates, nitrogen, ammonia, potash, and sulfates that make up the fertilizer market have now exceeded the highs seen during the food and energy crisis of 2008.
With talks between Ukraine and Russia yet to bear fruit, acute supply disruptions will likely keep increasing fertilizer prices. As the rising demand for fertilizers should help companies in this space to pass the soaring input costs to customers, the industry should thrive.
