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IPFS News Link • Agriculture

Skyrocketing Fertilizer Prices Could Spark Widespread Global Famines...

• by Michael Snyder

I am going to try to make as much noise about this crisis as I can, because we have never faced anything like this in modern times.  Global fertilizer prices have tripled, and we are being warned that this is going to have a catastrophic impact on food production all over the world.  On Monday, an article that I wrote about this went viral all over the Internet.  On Zero Hedge alone, my article has been viewed more than a quarter of a million times.  The reason why the article is so popular is because the corporate media in the United States is largely ignoring this story.  But it should be front page news all over the country, because this is going to affect every man, woman and child on the entire planet.

Some experts did warn us about this in advance.  For example, a European CEO told the media the following all the way back in November

"I want to say this loud and clear right now, that we risk a very low crop in the next harvest," said Svein Tore Holsether, the CEO and president of the Oslo-based company. "I'm afraid we're going to have a food crisis."

Holsether says that a food crisis is coming because the cost to produce a ton of ammonia has gotten nearly ten times higher

In Europe, the natural-gas benchmark hit an all-time high in September, with the price more than tripling from June to October alone. Yara is a major producer of ammonia, a key ingredient in synthetic fertilizer, which increases crop yields. The process of creating ammonia currently relies on hydropower or natural gas.

"To produce a ton of ammonia last summer was $110," said Holsether. "And now it's $1,000. So it's just incredible."


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