According to this Reuters report, “The Russian Ministry of Industry and Trade announced on Friday that it has recommended that national fertilizer producers temporarily suspend exports due to the geopolitical situation and its implications.”
“Given the current situation with foreign logistics operators and the risks associated with this, the ministry was forced to recommend that Russian producers temporarily suspend foreign shipments of Russian fertilizers until the carriers restore the rhythm of work and provide guarantees that the export of Russian fertilizers will be fully insured. “, the message says.
It should be noted that Russia is also a major exporter of phosphate and potash fertilizers: it supplies 17% of the phosphate fertilizer market.
As for potash, Russia and Belarus account for 42% of world exports.
It is also a very big problem for Latin America, since Brazil, for example, buys almost 60% of Russian volumes of nitrogen fertilizers. There is a question about the upcoming corn planting, with the risk of supply disruptions.
We might well face starvation or starvation, especially for those who would not have the means, because when the rich lose weight, the thin die.
These global economic sanctions and disruptions in the supply chains of agricultural inputs will have severe consequences for crops and therefore for animal and human food.
We do whatever.
Charles SANNAT
“This article is for the press, that is, free from reproduction in whole or in part, provided that this paragraph is reproduced after it. Insolentiae.com is a site where Charles Sannat speaks his mind daily and provides brash and uncompromising analysis of economic news. Thank you for visiting my site. You can subscribe to the daily newsletter free of charge at www.insolentiae.com. »