Overview
- UNDP chief Alexander De Croo, who spoke Thursday, warned more than 30 million people could fall back into poverty as fertilizer and fuel disruptions cut crop yields later this year.
- The price of nitrogen fertilizers has more than doubled, and Fertiglobe’s CEO said supplies may take months to recover even after the strait reopens and many farmers will skip applications this season, which risks food shortages and inflation later.
- The UN has launched a UNOPS-led task force to verify and enable fertilizer shipments through a time-limited corridor, with its chief saying the one-stop platform could be operational in seven days if allowed to proceed.
- Australia said Wednesday it will underwrite imports with Incitec Pivot and CSBP to speed deliveries after granular urea prices jumped 94% this year, aiming to protect planting windows.
- An American Farm Bureau survey found 70% of U.S. farmers cannot afford all the fertilizer they need, a squeeze that raises corn costs and then feeds through to higher prices for meat, dairy and eggs.