Monday, July 4, 2022

Fertilizer stocks soar in the US and Brazil as farmers give up on higher prices, lessening crop concerns

Fertilizer shortages that crippled the agriculture sector and raised food costs globally may be on the verge of extinction.

Ropes around the world are dependent on nutrients from Russia, one of the biggest exporters, and four months ago the invasion of Ukraine rocked markets for the critical chemical. Ultimately the prices went up so much that the farmers stopped buying and now the market has turned. Fertilizer is being supplied from Florida to South America. According to people familiar with the matter, ships are waiting to be landed and companies are struggling to reduce stock at ports and warehouses.

Nation World News Desk
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