The worldwide shortage of fertilizers is creating a food crisis in poorer countries. The executives of major fertilizer firms are concerned about the hike in current food prices.
To produce fertilizer, firms require large amounts of gas in their production. The chief executive of Yara International Svein Tore Holsether mentioned that due to higher gas prices, the cost of producing fertilizer has raised which costs and affects food prices worldwide.
Some of the major fertilizer firms had been forced to cut some production due to higher gas prices. As a result, it led to fertilizer shortages. Many developing countries have been affected by this shortage of production that yields declining crop production and food prices rising.
Tore Holsether also said, “It’s really scary, we are facing a food crisis and vulnerable people are being hit very hard,” Then he added, “It’s impacting food prices all over the world and it hits the wallets of many people. But for some people, especially in the developing world, this is not only a question about the wallet, but it’s a question of life or death.”