Fertilizer Matters EP54: War & Fertilizer Demand Destruction
Analysing why fertilizer demand destruction is happening, focusing on US, Brazil & Europe, crop margins, farmer application, food inflation, government reaction
Hear Argus’ essential analysis of fertilizer demand destruction, as the impact the Middle East conflict continues to shake global markets. This episode focuses on what demand destruction is, why it’s happening and how the ripple effects could hit North America, South America and Europe. We also explore whether farmers are delaying application, if crop margins are collapsing, food inflation – and how governments are responding.
Join Mike Nash, Senior Editor – Fertilizers, Claudia Wlk, Editor – Argus European Fertilizer, Taylor Zavala, Deputy Editor – Argus North American Fertilizer and Renata Cardarelli Gabrielli, Editor – Argus Brazil Grains and Fertilizer as they discuss these topics in the latest episode of Argus' Fertilizer Matters podcast series.
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Key questions answered in this podcast:
- What is fertilizer demand destruction and why is it happening?
- How is Europe taking this fertilizer shock, in addition to the impact of the Russia-Ukraine conflict and CBAM?
- How exposed are US and Canadian farmers to fertilizer inflation?
- With Brazil importing the majority of its fertilizer – how vulnerable is it to this imported inflation?
- Which fertilizer markets (N, P or K) are the most affected?
- Is demand destruction purely due to higher fertilizer prices, or are there other factors at play?
- How have retailers, distributors and traders responded?
- Are crop margins collapsing – and have farmers delayed application or switched to other products?
- Could less fertilizer use eventually tighten grain supply and push food inflation back up?
- How have governments in the US, Brazil and Europe reacted to support farmers?
- What indicators should markets watch out for over the next few months?
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