Fertilizer Price Surges 43% to Fresh Record as Supplies Tighten
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Fertilizer prices continue to spike to records as Russia’s invasion of Ukraine puts a massive portion of the world’s fertilizer supply at risk, adding to concerns over soaring global food inflation.
A gauge of prices for the nitrogen fertilizer ammonia in Tampa surged 43% to $1,625 per metric ton Friday, a record for the 29-year-old index. Production outages and tight global supply are driving the jump, according to a note from Bloomberg Intelligence.