Global prices for fertilizers returned to 2021 levels in 2023 after surging in 2022 )

Line chart showing prices for diammonium phosphate, triple superphosphate, urea, muriate of potash, and phosphate rock from January 2021 to March 2023.

Russia’s invasion of Ukraine in early 2022 led to transportation interruptions and new trade restrictions. That curtailed already short fertilizer supplies, driving up prices almost 50 percent from February to April 2022, affecting the entire food supply chain.

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