A top United Nations (UN) food official has warned that high prices and shortages of fertilizer could slash global grain production by upward of 40 percent.
Two more fertilizer plants have been forced to shut down in Europe over high gas prices, placing further strain on the farming industry and global food supply chain.
The Chinese Communist Party (CCP) has locked down the port of Yiwu City in East China, the world’s largest wholesale hub, according to reports.
The world’s largest chemical company, Germany’s BASF, is set to further cut production of key fertilizer ingredient ammonia.
The global price of wheat has fallen to pre-Russian invasion levels following the Friday announcement that Russia and Ukraine have struck a deal to unblock exports.
Water cuts in California are devastating farms in the region, with thousands of acres of prime U.S. farmland literally turning to dust, according to reports.