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Hindsight is not only 20/20, in this case it’s a little alarming.
Last year, we were discussing the massive increases in food and farming costs associated with increased fertilizer prices. By the time we got to late January, the World Bank (WB), United Nations (UN) and the Davos / World Economic Forum (WEF) group were discussing it . At first the perspective was the potential for lower crop yields creating increased global famine.
However, if we apply a little hindsight from the geopolitical world surrounding the current issues in Europe, specifically Ukraine, and then consider the background of what the Biden team were doing, while Russia, Belarus and China were stockpiling, things look a little more concerning than just lower crop yields as an outcome of higher natural gas prices – vis-a-vis nitrogen fertilizer. As noted by Forbes last month , “ Russia and China have imposed export restrictions on fertilizer. Both are, or were, big exporters of plant food. The decline in exports makes getting the vital nutrients harder across the globe. China and Russia account for 29% of world exports for nitrogen-based plant food. The two countries also have significant, albeit, smaller shares of the phosphate and […]
Read the whole story at theconservativetreehouse.com
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