Due to Russia's military invasion of Ukraine and other factors, fertilizer prices will reach record highs for many types by October.
Zen-Noh = National Federation of Agricultural Cooperatives announced on the 31st the wholesale price of fertilizer to each prefecture's organization from June to October.
According to this, among the chemical fertilizers,
▽ imported urea will increase by 94% compared to the previous period from November to May last year, and
▽ potassium chloride will increase by 80%.
In addition,
among the compound fertilizers containing nitrogen, phosphoric acid, and potassium, the price of products containing 15% each of the three price indicators will be increased by 55%.
For many types, the price is the highest ever since 2005.
Regarding the reasons for the price increase, all farmers are increasing the demand for fertilizer due to the increase in global grain demand, and the supply from Russia, which is a producer of urea and potassium chloride, following the military invasion of Russia into Ukraine. He also mentioned the stagnation and the impact of China's restrictions on the export of fertilizers such as urea since October last year.
Russia and Belarus account for about 40% of the world's exports of potassium chloride, and the movement to cancel imports due to military invasion is spreading around the world, and the price is rising.
Zen-Noh intends to promote the use of compost to producers.