“With prices at record levels, farmers decided to reduce applications to protect their margins,” Marina Cavalcante, an analyst at Bloomberg’s Green Markets said. Farmers are able to skip application of phosphate fertilizers without compromising yields since the soil can retain this nutrient for more than a year, she said.
Nutrien reported disappointing earnings today amid “demand destruction”. That highlights some of the same issues that occurred with high fertilizer prices in 2007. Farmers rebelled and food insecurity killed off the market of biodiesel.Click HERE to subscribe to Fuller Treacy Money Back to top