Global fertilizer prices hit a 12-year high

Since the beginning of this year, global fertilizer prices have skyrocketed due to the increase in global food planting area and the increase in chemical fertilizer demand, while the new supply has decreased

In North America, the index measuring North American fertilizer prices soared to a record high

According to data from the United States Department of Agriculture, the cost of corn fertilizer in Illinois is currently about US$165 per acre, compared to about US$140 this spring, and US$85 to US$90 before 2020

Canada, as the world's largest exporter of rapeseed and a major wheat producer, saw the largest increase in fertilizer prices since 2015 in the second quarter of this year

At the same time, the European energy crisis caused the price of natural gas to skyrocket, and the fertilizer industry was severely affected

In Europe, France is the EU’s largest food producer and exporter.

The crop office under the French Ministry of Agriculture said that due to the soaring fertilizer prices and tight market supply this year, the cost of French crop planting has increased, causing some farmers to stop planting corn next spring and instead plant some crops that do not rely on chemical fertilizers, such as spring wheat or sunflowers.

In Asia, at present, Thailand must rely on imported fertilizers, including urea, diammonium phosphate and potassium, whose prices have risen sharply