Courtesy of ZeroHedge View original post here.
This morning we listed some of the countries that are dangerously (and almost exclusively) reliant on Russia and Ukraine for their wheat imports, highlighting Turkey, Egypt, Tunisia and others…
… which are facing an "Arab Spring" style food crisis (and potential uprising) in the coming weeks unless the Ukraine conflict is resolved.
And unfortunately, we can now confidently predict that the coming food crisis will strike every country that is using food fertilizer – which is all – because moments ago, Russian Interfax reported that as part of Moscow's countersanctions, Russia has recommended fertilizer makers to halt exports, a move which will sent not only fertilizer prices orbitally higher, but all food prices will soon follow.
- *RUSSIA RECOMMENDS FERTILIZER MAKERS TO HALT EXPORTS: IFX
- *RUSSIAN MINISTRY CITES LOGISTICS ISSUES ON FERTILIZERS: IFX
Worse still, natural gas is required in the manufacturing process for most nitrogen/fertilizer products and so the recent surge in European NatGas prices to record highs will only exacerbate the cost of fertilizer from any halt from Russia…
And with wheat prices already at all time highs…
… all hell is about to break loose not only among food producers, but soon, in your local grocery store once US consumers realize that food prices are about to double, triple and x-ple more.
