The food crisis will worsen and costlier fertilisers are the reason
India Today
The food crisis will worsen by the day and costlier fertilisers will fuel it. Read on to know more.
Ramifications of the Russia-Ukraine war are now deepening globally. Fertiliser prices hitting the roof will likely lead to another global food crisis. The Black Sea ports have been blocked and mined. Supply has been disrupted as major suppliers of commodities have locked horns.
-Fertiliser prices have soared nearly 30 per cent since January 2022, following the last year's 80 per cent tide
-The Russia-Ukraine war and China's ban on fertilisers export are two of the main factors behind the current price hike
-The war and related sanctions blocked supply and ramped up natural gas prices, a key input for fertiliser production
-More than 20 million tonnes of grain are stuck in Russia as Black Sea ports have been blocked
-India will likely double the subsidy amount from its usual size to counter the steep rise in international fertiliser prices
Citing the “gravity of the humanitarian crisis that may affect the world's poorest,” Italy's Prime Minister Mario Draghi, following a discussion with Vladimir Putin over the looming food crisis, said he felt it was his duty to reach out to the Russian President. He added he will hold a call with Ukrainian President Volodymyr Zelenskyy on this issue.
