The world's fertilizer shortage is expected to persist until 2023, posing a threat to agriculture and food security, especially in Africa, where farmers heavily rely on imported agricultural resources. This is stated in a recent joint study by FAO and WTO entitled "Global Fertilizer Markets and Policies," as reported by TASS.
This study analyzes the state of the fertilizer market, described as unstable, and its impact on agriculture. It also provides recommendations for the governments of G20 countries, emphasizing the importance of maintaining the fertilizer market to meet global demand and prevent food crises. "Factors such as the conflict in Ukraine, high inflation, supply chain disruptions, and global economic downturn have led to a sharp increase in prices of fertilizers and agricultural products, resulting in limited access to them in many countries," the study notes.
It is proposed that the governments of G20 countries keep markets open for food, feed, and fertilizers, and minimize disruptions in fertilizer trade, including refraining from export restrictions that are inconsistent with WTO rules. The study underscores the need to ensure access to fertilizers for the most vulnerable countries, including increasing international financial support and utilizing risk management tools.