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MacroVoices #337 Leigh Goehring: The Global Food & Fertilizer Crisis Is Much Bigger Than Russia/Ukraine
Macro Voices
The Importance of Fertilizer Application
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Fertilizer prices have run so strongly over the last years that farmers can't afford to buy it. The price of uranium is a tiny, tiny little line item; if the cost of fuel doubles, it really doesn't affect the price of electricity very much. If you're a far mer in an emerging market and you basically operate on a cash basis, with no ability to draw on credit from banks, things like that, when you have a huge short term surge and fertilize prices like that, you can't affordto buy it. And i think we'll see increasing episodes of food nationalism as we go through this decade," he says.
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