President Biden’s decide to be the subsequent Chief Ag Negotiator says, if confirmed, he’ll have interaction with China to step up its manufacturing of fertilizer components as farm enter prices right here soar. Doug McKalip says farm enter inflation can be a high precedence of his if confirmed.
Aside from Russia, McKalip says China is one other massive producer of fertilizer components.
Texas A&M’s Ag and Food Policy Center reported early within the yr that report fertilizer costs may improve one other 80 p.c this yr. The Ukraine-Russia battle has led to produce shortages, with each nations main producers of ag commodities and inputs. Russia, alone, accounts for 23 p.c of world ammonia exports, 14 p.c of urea, 21 p.c for potash, and 10 p.c of processed phosphates.