Studies show that most fertilizers depend on one or more of the following macronutrients: Nitrogen (N), Phosphorous (P), and Potassium (K);These three macronutrients are essential to plant life, and the cost to produce them is on the rise according to World Fertilizer Index reports. While the Ukraine-Russia conflict plays a role in this increase, the WFPI indicates that prices have been trending upward for nearly three years.The WFPI attributes the price increases to logistics-related complications; Everything from bad weather, route blockages, and union strikes are causing price surges. These factors, combined with pent-up demand from the COVID-19 pandemic and volatile Russian-based resources, create a perfect storm for higher costs at grocery stores due to decreasing food production. An article published by Money Scoop briefly touches on the topic of rising fertilizer costs with references to specific influential factors.
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