Fertiliser costs imperil food supplies 
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Fertiliser prices have risen more than 36% since the start of 2022, driven
by increased commodity costs, supply disruptions caused by the invasion of Ukraine, and export restrictions
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Fertiliser (Diammonium phosphate, $/tonne) 

Wheat (Soft Red Winter, $/tonne)
Jul 30, 2021: China – world’s top exporter of phosphates – suspends exports to assure domestic supplies


574.6 603.1 672.9 726.7 745.0 699.4 747.1 938.1 954.0 

271.0 276.2 245.2 334.5 332.1 672.5 

Feb 2, 2022: Russia bans exports of fertilisers

Feb 24: Russia invades Ukraine – blocks ships from departing with grain

May 14: India bans wheat exports
     
0 200 400 600 800 

May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr
2021   2022

Global fertiliser demand: 192.0 million tonnes (2019)

Nitrogen Phosphate Potash

107.4 million tonnes 46.6 38.0
       
Exports (2019) 
Russia 17.2
China 14.0

Russia 6.5
China 11.2

Russia 7.2 

China 0.8
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Sources: CNN, FAO, Reuters, S&P Global Picture: Getty Images © GRAPHIC NEWS