# How the Russia-Ukraine War Fueled Record Fertilizer Prices

> The St. Louis Fed explains that Russia's February 2022 invasion of Ukraine worsened an already tight global fertilizer supply, pushing prices to record highs in spring 2022. Russia informally halted fertilizer exports and later imposed export restrictions lasting through May 2023, while shipping and financing firms avoided Russia.

- Date: 2022-10-04 · published 2022-10-04T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39051-how-the-russia-ukraine-war-fueled-record-fertilizer-prices
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [DAP](https://feedsoft.ai/c/DAP.md), [Potash (KCl)](https://feedsoft.ai/c/POTASH.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

High nitrogen and phosphate costs raise farm production expenses and can reduce planted acreage or application rates, which tends to support feed grain and meal prices over the medium term.

## Read by commodity

- DAP: bullish ▲
- UREA: bullish ▲
- NATGAS: bullish ▲
- POTASH: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2022-03-22 | [Fertilizer prices are at record highs. Here's what that means](https://feedsoft.ai/events/5512-fertilizer-prices-are-at-record-highs-here-s-what-that-means.md) | +0.4% | -0.7% |
| UREA | 2022-03-26 | [Fertiliser companies dig in for hard times amid Russia-Ukraine war](https://feedsoft.ai/events/42573-fertiliser-companies-dig-in-for-hard-times-amid-russia-ukraine-war.md) | +8.1% | -4.2% |
| UREA | 2022-09-28 | [How the war in Ukraine is affecting the world's supply of fertilizer : NPR](https://feedsoft.ai/events/39891-how-the-war-in-ukraine-is-affecting-the-world-s-supply-of-fertilizer-npr.md) | -5.3% | -9.1% |
| UREA | 2022-03-15 | [Russia-Ukraine War Drives World Wholesale Fertilizer Prices Higher - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/5511-russia-ukraine-war-drives-world-wholesale-fertilizer-prices-higher-supply-chain.md) | -1.6% | -0.2% |
| UREA | 2021-07-22 | [Ukraine may restrict the import of fertilizers from Belarus](https://feedsoft.ai/events/45999-ukraine-may-restrict-the-import-of-fertilizers-from-belarus.md) | 0.0% | -2.4% |
| DAP | 2022-03-22 | [Fertilizer prices are at record highs. Here's what that means](https://feedsoft.ai/events/5512-fertilizer-prices-are-at-record-highs-here-s-what-that-means.md) | +2.1% | 0.0% |
| DAP | 2022-03-26 | [Fertiliser companies dig in for hard times amid Russia-Ukraine war](https://feedsoft.ai/events/42573-fertiliser-companies-dig-in-for-hard-times-amid-russia-ukraine-war.md) | +4.7% | -1.1% |
| DAP | 2022-09-28 | [How the war in Ukraine is affecting the world's supply of fertilizer : NPR](https://feedsoft.ai/events/39891-how-the-war-in-ukraine-is-affecting-the-world-s-supply-of-fertilizer-npr.md) | -2.6% | -2.2% |

## Sources

- stlouisfed.org: https://www.stlouisfed.org/publications/regional-economist/2022/oct/russia-ukraine-war-record-fertilizer-prices

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