
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
Tear gas and arrests: Iranian regime continues crackdown on protesters amid economic unrest - 2
EU Council president: Ukraine should receive binding guarantees - 3
Vote in favor of your Favored kind of footwear - 4
'Stranger Things' character guide: The nerds, the newcomers and the rest of the Season 5 cast - 5
FACT FOCUS: Trump sows confusion on number of childhood vaccinations
EU states agree first step for Ukraine reparations fund
Aluminum salts emerge as likely target as health officials scrutinize childhood vaccines
Most loved Caf\u00e9 Chain: Where Do You Get Your Caffeine Fix
How will the universe end?
CDC studies show value of nationwide wastewater disease surveillance, as potential funding cut looms
Flights canceled at 40 U.S. airports: Follow live updates as FAA cuts to air traffic take effect amid government shutdown
Meet the astronauts about to make history on flight around the moon
Instructions to Pick the Ideal SUV Size for Seniors
Ancient Egyptian pharaoh's boat is being reassembled in public at the Grand Egyptian Museum












