Sanctions on Russian fertilizer exports could hinder global food supply
The director of plant foods for MFA Incorporated is urging caution on issuing sanctions against Russian fertilizer exports.
Chris DeMoss tells Brownfield Russian fertilizer exports are already down sharply, and sanctions on fertilizer exports would further threaten global food production…
“No one’s willing to take a vessel to get loaded, really,” DeMoss said. “Because it’s just risky.”
He said Russia, and neighboring Belarus, produce more than a third of the world’s potash and substantial amounts of other fertilizers. DeMoss said the loss of that product in the global market would likely hit South America the hardest next growing season, who imports about 20 percent of globally traded potash.
“If they don’t get the fertilizer, they’re going to probably see reduced acres,” he said. “It’s hard to say exactly how that’s all going to play out. But that’s what’s going to be driving the fertilizer market to some degree is: how much [is South America] willing to pay.”
DeMoss said farmers need to be focused on potential crop profit margin moving forward, over just looking at input price.
Brownfield interviewed DeMoss at the University of Missouri’s Abner Womack Agriculture Outlook Conference Wednesday.