Global Fertilizer Reserves to Drop Just as Russia War Adds Risks
Reserves will be “as low as we’ve ever seen,” says major producer CF
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Fertilizer is getting harder to find just as farmers are getting ready for planting. And now Russia’s invasion of Ukraine is injecting even more uncertainty into then already tight crop nutrient market.
Russia is a low-cost, high-volume global producer for all major fertilizers, and it’s the world’s second-largest producer of potash after Canada. While sanctions haven’t yet hit Russian fertilizer companies, more restrictions could be coming. Just Wednesday, the U.S. said it will target Russia’s oil sector by restricting exports of technology related to the energy sector.