Rising prices of fertilizer may lead to a surge in global rice prices and issues of food security

Описание: 비료가격 급등에 국제 쌀값도 위기... 곡물 위기로 인한 식량 안보 문제

The ongoing Russia-Ukraine war has already contributed to higher food prices and now rice production is under threat in parts of Asia.
Experts fear further disruption to global food supply chains could even destabilize governments in developing countries.
Lee Eun-jin reports.
After Russia's invasion of Ukraine, the global food supply has been hit with a surge in prices for wheat and corn. The prices of rice has managed to hold out against the instability so far, but that may not last much longer as fertilizer prices continue to hit record highs. Experts cite panic over supplies in 2008, when rice soared above one-thousand U.S. dollars a ton, which is more than double the current level.
Most of the world's rice is grown and eaten in Asia.
Thailand is the world's second-largest rice exporter.
Farmers not only have to cope with erratic weather due to climate change, but have now reached a critical point as higher fertilizer prices have led to decreased nutrients for crops, which in turn have cut yields... resulting in a failure to meet global demand.

"The major problem of the war in Ukraine for us is the relationship between energy prices and fertilizer prices. So what we are observing is that the price of gas has gone up, that has increased the cost of producing fertilizers, particularly nitrogen, of which the Russia federation is the first exporter of nitrogen in the world, the second of potassium and the third for phosphorous."

While India is expected to play a role in helping to ease tightened rice supply in Asia for the time being, there is further concern that the Ukraine war may jeopardize food security in Africa.
Even prior to the invasion, Africa had a high reliance on international food markets for their food supply... with a fifth of its population already suffering from hunger.
But as more countries are impacted by food price inflation, the global ripple effect could ultimately lead to the destabilization of African governments.
Lee Eunjin, Arirang News.


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2022-07-12, 12:00 (KST)