The goal is to avoid a “future crisis” of availability

The United Nations is pushing to cut fertilizer prices to avoid a “future crisis” in availability, Reuters reported.

Russia’s war in Ukraine has led to a global food crisis and rising fertilizer prices, according to the United Nations. Russia and Ukraine are the world’s leading grain exporters, and Russia is also the largest fertilizer exporter.

“Today’s affordability crisis will become tomorrow’s availability crisis if we can’t bring the price of fertilizer down. That’s what we are working on now.” country (UNCTAD).

“To avoid future crises, we need to lower fertilizer prices,” Russia is one of the world’s largest suppliers of potash, phosphate and nitrogen fertilizers, essential plant and soil nutrients, producing 13% of the world’s total. Fertilizer exports from Russia fell by he 7% in the first half of 2022.

Easing Russia’s food and fertilizer exports was a key aspect of a bulk deal brokered by the United Nations and Turkey on July 22 that also resumed Ukrainian Black Sea grain and fertilizer shipments.

The deal included ammonia, the main ingredient in nitrate fertilizers. When Russia invaded Ukraine on February 24, a pipeline carrying ammonia from Russia’s Volga region to the Ukrainian Black Sea port of Pivdeny (Yuzhny) was shut down.

The United Nations is now trying to broker the resumption of these ammonia exports.

However, since the talks began, Russia has moved towards annexing the Donetsk, Luhansk, Kherson and Zaporizhia regions of Ukraine after holding a so-called referendum.

Grinspan declined to comment on the ammonia talks, telling Reuters the situation was “too cautious”. She added that UN Secretary-General Antonio Guterres tried to call her during her press conference.

“We have to do it right and bring the price down,” she said.

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Source: Reuters

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