Factors include reduced supplies from Russia and Belarus, China export ban and Canadian rail strike
Fertiliser prices have broken new records as global supplies are hit by multiple factors including reduced supplies from Russia and Belarus, disruptions to the supply chain, a China export ban and a Canadian rail strike.
“It’s a series of events we’ve never seen before and it continues to look like it’s going to get worse than better,” says Josh Linville, director of fertiliser at the US commodity trader StoneX. “People thought the Russia-Ukraine war would be quick and Russia would be back out in the market and that’s not been the case.”