# The Russia-Ukraine War’s Impact on Fertilizer Prices in 2022

> St. Louis Fed analysis recaps how Russia's invasion of Ukraine and sanctions drove fertilizer prices to record highs in spring 2022. Bloomberg's North America Fertilizer Price Index hit an all-time high of 1,270.4 on March 25, 2022. Pre-invasion tightness from COVID-19 disruptions had already raised prices.

- Date: 2023-04-04 · published 2023-04-04T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36330-the-russia-ukraine-war-s-impact-on-fertilizer-prices-in-2022
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [DAP](https://feedsoft.ai/c/DAP.md), [Potash (KCl)](https://feedsoft.ai/c/POTASH.md)

## Why it matters

The article explains past price shocks rather than new supply events, so it offers limited near-term price signal. It reinforces the structural fertilizer cost risk feed producers face.

## Read by commodity

- DAP: neutral
- UREA: neutral
- POTASH: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2023-02-16 | [Softening fertilizer prices "a bit of a gift" - Brownfield Ag News](https://feedsoft.ai/events/37644-softening-fertilizer-prices-a-bit-of-a-gift-brownfield-ag-news.md) | +0.1% | -3.1% |
| UREA | 2020-06-25 | [Global gas prices teeter above record lows on virus optimism, weather – The Energy Bulletin Daily](https://feedsoft.ai/events/9803-global-gas-prices-teeter-above-record-lows-on-virus-optimism-weather-the-energy.md) | +3.4% | +7.3% |
| UREA | 2020-04-14 | [Fertilizer Supply Chains Hold Steady, But No Guarantees - AgriBusiness Global](https://feedsoft.ai/events/53565-fertilizer-supply-chains-hold-steady-but-no-guarantees-agribusiness-global.md) | -0.3% | -20.2% |
| UREA | 2023-11-01 | [Weak Canadian Dollar Good for Ag Exports but Bad for Ag Inputs - Genesis Fertilizers](https://feedsoft.ai/events/33478-weak-canadian-dollar-good-for-ag-exports-but-bad-for-ag-inputs-genesis.md) | -2.8% | -5.6% |
| UREA | 2020-04-16 | [Covid-19 and fertilizers: Five things you need to know - CRU Group](https://feedsoft.ai/events/53560-covid-19-and-fertilizers-five-things-you-need-to-know-cru-group.md) | -0.3% | -21.2% |
| DAP | 2023-02-16 | [Softening fertilizer prices "a bit of a gift" - Brownfield Ag News](https://feedsoft.ai/events/37644-softening-fertilizer-prices-a-bit-of-a-gift-brownfield-ag-news.md) | -1.7% | -3.4% |
| DAP | 2026-04-16 | [Moroccan fertilisers maker OCP raises $1.5 billion in hybrid bond \| Reuters](https://feedsoft.ai/events/20025-moroccan-fertilisers-maker-ocp-raises-1-5-billion-in-hybrid-bond-reuters.md) | -0.7% | +3.8% |
| DAP | 2020-04-14 | [Fertilizer Supply Chains Hold Steady, But No Guarantees - AgriBusiness Global](https://feedsoft.ai/events/53565-fertilizer-supply-chains-hold-steady-but-no-guarantees-agribusiness-global.md) | 0.0% | -6.4% |

## Sources

- stlouisfed.org: https://www.stlouisfed.org/on-the-economy/2023/apr/russia-ukraine-war-impact-fertilizer-prices-2022

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.