UN urges global fertilizer price cut to avoid ‘future crisis’

The United Nations is pushing to lower the price of fertilizers to avoid a “future crisis” in availability, said a senior UN trade official involved in talks aimed at boosting exports of Russian fertilizers, including ammonia .

Russia’s war in Ukraine has led to a global food crisis and rising fertilizer prices, according to the United Nations. Russia and Ukraine are major global grain exporters, while Russia is also one of the top fertilizer exporters.

“If we are not able to bring fertilizer prices down, the affordability crisis we have today will be an availability crisis tomorrow, and that’s what we’re working on right now,” said Rebeca Grynspan, secretary-general of the United States Conference of Nations for Trade and Development (UNCTAD).

“To avert a future crisis, we need to lower fertilizer prices,” she told reporters in Geneva.

Russia is one of the world’s largest suppliers of potash, phosphate and nitrogen fertilizers – essential plant and soil nutrients – producing 13% of the world total. Fertilizer exports from Russia fell by 7% in the first half of 2022.

Facilitating Russia’s food and fertilizer exports is a key aspect of a package deal brokered by the United Nations and Turkey on July 22, which also saw Ukraine’s Black Sea grain and fertilizer supplies resumed. Russia has criticized the deal, complaining that its exports are still being hampered.

The deal included ammonia – a key ingredient in nitrate fertilizers. A pipeline carrying ammonia from Russia’s Volga region to Ukraine’s Black Sea port of Pivdennyi (Yuzhny) was shut down when Russia invaded Ukraine on February 24.

The UN is now trying to broker a resumption of these ammonia exports.

But since the talks began, Russia has moved to annex Ukraine’s Donetsk, Luhansk, Kherson and Zaporizhia regions after holding so-called referendums that Kyiv and Western governments have described as illegal and coercive.

Grynspan declined to comment on the ammonia negotiations, describing the situation to Reuters as “too sensitive”. She added that UN Secretary-General Antonio Guterres tried to call her while she was at the press conference.

“We have to do it right and lower the prices,” she said.

https://www.independent.ie/business/farming/news/farming-news/un-pushes-for-global-fertilizer-price-cut-to-avoid-future-crisis-42038543.html UN urges global fertilizer price cut to avoid ‘future crisis’

Fry Electronics Team

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