20 May 2008 13:43 [Source: ICIS news]
(Updates with Enger's first name in first paragraph and further detail in fifth paragraph)
VIENNA (ICIS news)--Historically high fertilizer prices are not to blame for global food price rises but are a function of a functioning supply and demand-led market, bolstered by high energy and feedstock costs, said IFA president Thorleif Enger on Tuesday.
Addressing the 76th International Fertilizer Industry Association (IFA) conference in ?xml:namespace>
“Food and fertilizer prices have been relatively flat in real terms for the last 15 years,” he said.
“This, combined with government complacency has led to limited investment in agriculture, and consequently fertilizer capacity.
“Increasing household incomes in
What was needed from the fertilizer industry in response to such unprecedented times, Enger said, was resolve to overcome production bottlenecks and maximise output and encouragement of greater fertilizer efficiency usage.
“Otherwise, the supply side will remain tight until this situation was resolved,” Enger said.
The IFA conference runs from 19-21 May.
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections