Repercussions of the insane Russian aggression in Europe "EU leaders will call for a third package of sanctions to be prepared, this one to target Belarus for its involvement in the invasion of Ukraine, according to draft conclusions prepared for Thursday that could still be changed.
“Farmers brace for soaring fertilizer costs on Russia-Ukraine conflict
- Food production is expected to be hit following the invasion of Ukraine by Putin.
- 7/8 of the major fertilizer prices are up over 5% this week. (DTN)
- Brazil imports 85% of its fertilizers, with Russia its largest supplier of the nitrogen, phosphorus and potassium mix.
- Fertilizer prices are already at elevated levels following the US’ imposition of sanctions on Belarus.
- Farmers await clarification on US sanctions on Russia.
- Russia is a major supplier of MOP (muriate of potash) fertilizer, with key potash supplier Mosaic halting offers in anticipation of supply impacts.
- Russia and Ukraine also account for 29% of global wheat exports, 19% of corn exports and 80% of sunflower oil exports. (SCMP)
- Food prices began the year at 10-year highs, with further rises expected on increased input costs for farmers and reduced supply from Eastern Europe."
* SP Angel In London