North American fertilizer prices are spiking as plant closures in Europe squeeze supplies.
An index of weekly North American fertilizer prices by Bloomberg’s analysis organization Green Markets rose by over 11% Friday, the most since March, as an energy crunch in Europe forces some plants to close or curtail production. Natural gas is the No. 1 input for most nitrogen fertilizer. The common nitrogen fertilizer ammonia in the US Corn Belt saw prices rise nearly 24%.