Extreme weather, plant shutdowns and government sanctions have hit the market
Most people do not give fertiliser a second thought — except maybe when driving through a particularly fragrant agricultural area. But with prices for some synthetic nutrients at their highest levels since the financial crisis, it could mean weaker harvests and bigger grocery bills next year, just as the world’s supply chains start to recover from the pandemic.
Some are holding out before buying for the next growing season in hopes costs come down — a risk, she said, since prices could continue to rise. The logistics companies that transport fertiliser are also facing labour shortages and price increases, adding to costs. The National Development and Reform Commission has vowed to crack down on urea hoarding and price gouging to maintain market stability, but prices have still been soaring: urea futures on the Zhengzhou Commodity Exchange have powered to a fresh record amid high prices for coal — the primary feedstock for nitrogen fertilisers in China — and concerns over tight supplies.
Smaller maize crops could mean elevated feed costs for dairy and other animal farmers, ultimately translating to higher prices for consumers buying meat such as beef and chicken. Maize — its high-fructose syrup, that is — is also a major ingredient in sodas, juice and other processed food consumed by many households.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World faces bigger grocery bills as fertiliser costs rocketExtreme weather, plant shutdowns and government sanctions have hit the market
Read more »
Safa must forget hosting World CupREADER LETTER | As Mzansi and the world try to rebuild after a tumultuous 18 months caused by the devastating impact of the coronavirus, I just don’t see the logic why the SA Football Association (Safa) wants to host the 2021 Fifa Club World Cup.
Read more »
Springboks aren’t doing the ’solid basics’ that made them world championsThe reality is that in everything the Springboks did, their execution was poor – whether it was in their traditional structured approach or in them trying to be expansive. They need to get back to the 'solid basics', writes Mike Greenaway, IOLsport.
Read more »
Biden to deliver his first United Nations address as world leaders return to New YorkWorld leaders are returning to the United Nations in New York this week with a focus on boosting efforts to fight both climate change and the Covid-19 pandemic. Covid19 ClimateChange
Read more »
Safa reveals move to bid for Club World Cup | CitypressThe biggest winner would be the tourism sector, which has been hit hard by the Covid-19 pandemic, says Danny Jordaan.
Read more »
What’s in City Press Sport: Safa reveals move to bid for Fifa Club World Cup | | CitypressThis is what to expect in City Press Sport
Read more »