Surging Fertilizer Costs Are Pushing Food Prices Higher

Fertilizer costs have roughly doubled from a year ago as the war in Ukraine disrupted the flow of supplies from Russia, the world’s largest exporter of the commodity. That has contributed to higher global prices for food, especially corn.

“Corn is the most fertilizer-intensive crop and is likely to be the most impacted by rising input costs driven by the spike in fertilizer prices,” says Jeremy Thurm, senior credit research analyst at Aegon Asset Management. Fertilizer is an input cost for most all crops, so those will be…