Russia's Cessation Of Fertilizer Exports Will Soon Push Up Food Prices

Portugal's TSF radio reported on March 10 that Eduardo Oliveira e Sousa, president of the Portuguese Agricultural Confederation (Confederação dos Agricultores de Portugal), said that Russia is a major supplier of potassium, phosphorus, and nitrogen fertilizers, and that Russia's cessation of fertilizer exports will soon push up food prices. Before the outbreak of the Russian-Ukrainian war, due to the energy crisis, the price of chemical fertilizers in Portugal had risen by 100% compared with the previous year. Coupled with the tight supply, the cost of agricultural production will inevitably rise, which will immediately push up food prices.