PODCAST: Chaotic fertilizer markets and weather events could worsen food crisis

BARCELONA (ICIS)–Expect a worsening food crisis as the war in Ukraine disrupts global fertilizer markets, while extreme weather events around the world hinder food production.

• Food crisis to intensify next season as crop production under threat
• Food will become more expensive and less available
• Farmers to delay fertilizer purchase in hope of lower prices
• Expect supply-chain crunch if farmers all order at once
• Bad weather hits global crop production
• Lack of financing for farmers to purchase fertilizers
• Food price inflation will suck money from consumers’ pockets
• Demand for non-essential goods will be depressed, hitting chemicals demand
• Russia produces almost one-fifth of global phosphate supply
• Tight supply pushes phosphate prices to records
• Urea prices hit record as war began, but fell as Russia found other markets
• Urea prices still 75-80% higher year on year and may remain elevated

In this Think Tank podcast, Will Beacham interviews Sylvia Traganida, ICIS senior editor covering phosphates; deputy managing editor Deepika Thapliyal covering urea; ICIS senior consultant Asia, John Richardson and Paul Hodges, chairman of New Normal Consulting.

Listen to a podcast recorded at the International Fertilizer Association (IFA) conference in Vienna.

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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Read Paul Hodges and John Richardson’s ICIS blogs.