The Vice President, West African Fertiliser Association (WAFA), Dr. Innocent Okuku has said that the global increase in the price of essential ingredients in fertiliser production is one of the factors responsible for the current situation of the rise of fertiliser as reported by the Nation Newspaper.
Okuku noted that soaring freight costs and logistics were responsible for the rising fertiliser prices. Globally, fertiliser price increases are being driven by nitrogen production challenges, tight global supplies, rising natural gas costs, and steady demand.
The Nation, further reports that IFDC estimates that should prices remain higher the consequence will be devastating: a reduction of 30 per cent, or two million metric tonnes (MT), translates to 30 million metric tonnes (MT) less food produced, equivalent to the food requirement of 100 million people. This comes with significant repercussions and will further increase smuggling, while food prices continue to rise.