The United Nations is urging efforts to cool down global fertilizer prices to avoid a “future crisis” in fertilizer supplies.
A senior United Nations trade official involved in talks to boost Russia’s fertilizer exports said the Russia-Ukraine conflict has caused a global food crisis and dragged down the country. with fertilizer prices skyrocketing.
Meanwhile, both Russia and Ukraine are the main grain exporters in the world food market, in addition, Russia is also one of the largest exporters of fertilizers.
Rebeca Grynspan, Secretary General of the United Nations Conference on Trade and Development (UNCTAD) told reporters in Geneva: “If we can’t cool down fertilizer prices right now, there’s a crisis. in the future is inevitable.”
According to UNCTAD statistics, Russia is one of the world’s largest suppliers of potassium, phosphate and nitrogen fertilizers – these three are important soil and plant nutrients – producing 13% of the total. global food production. However, fertilizer exports from Russia fell 7% in the first half of 2022.
Although on July 22, the United Nations and Turkey brokered to facilitate the export of food and fertilizers from Russia under a package agreement, and at the same time restarted flights to Russia. grain and fertilizer in the Black Sea of Ukraine. However, Russia has so far complained that its exports are still hindered.