FAO: Shortages in fertilizers will likely persist into 2023

Shortages in fertilizers will likely persist into 2023, threatening agricultural production and food security in Africa in particular, where farmers are heavily dependent on imported agricultural inputs, Report informs, citing a study issued by the World Trade Organization (WTO) and the UN Food and Agriculture Organization (FAO) on November 14.

Factors such as the crisis in Ukraine, high inflation, supply chain disruptions, and the global economic downturn have led to soaring prices for fertilizers and agricultural products, resulting in limited availability in many countries, notes the study titled "Global fertilizer markets and policies.

The study recommends, in particular, that G20 governments keep food, feed, and fertilizer markets open and minimize disruptions to trade in fertilizers, including refraining from export restrictions inconsistent with WTO rules. It stresses the need to ensure access to fertilizers for the most vulnerable countries, including through mobilizing international financial support and leveraging risk management tools, such as fertilizer contract swaps, to hedge against extreme price volatility.