# High natural gas prices could lead to spike in food costs through fertilizer link | S&P Global

> S&P Global analysts say global fertilizer prices hit multi-year highs after surging natural gas and coal feedstock costs and export restrictions. Natural gas is both a feedstock and fuel for nitrogen fertilizer, and China's phosphate export ban and Russia's fertilizer export ban added to supply tightness.

- Date: 2022-01-19 · published 2022-01-19T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/43069-high-natural-gas-prices-could-lead-to-spike-in-food-costs-through-fertilizer
- 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), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Higher fertilizer costs raise farm input expenses and may cut planted acreage or application rates, which can tighten future grain and oilseed supply and support feed prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2022-04-25 | [High fertilizer prices contribute to rising global food security concerns \| IFPRI](https://feedsoft.ai/events/41764-high-fertilizer-prices-contribute-to-rising-global-food-security-concerns-ifpri.md) | -18.1% | -19.0% |
| UREA | 2022-08-05 | [Nitrogen Fertilizer Prices Are Spiking as Natural Gas Soars - Bloomberg](https://feedsoft.ai/events/40356-nitrogen-fertilizer-prices-are-spiking-as-natural-gas-soars-bloomberg.md) | -4.5% | +13.6% |
| UREA | 2023-02-10 | [Fertiliser prices likely to remain at high level in coming months](https://feedsoft.ai/events/11746-fertiliser-prices-likely-to-remain-at-high-level-in-coming-months.md) | +1.6% | -2.7% |
| UREA | 2021-10-08 | [Fertilizer prices soaring as natural-gas rally adds to ‘perfect storm’ - MarketWatch](https://feedsoft.ai/events/5906-fertilizer-prices-soaring-as-natural-gas-rally-adds-to-perfect-storm-marketwatch.md) | +4.0% | +9.9% |
| UREA | 2021-09-28 | [U.S. natgas rise to 7-year high on record global prices](https://feedsoft.ai/events/7925-u-s-natgas-rise-to-7-year-high-on-record-global-prices.md) | +28.4% | +33.3% |
| DAP | 2022-04-25 | [High fertilizer prices contribute to rising global food security concerns \| IFPRI](https://feedsoft.ai/events/41764-high-fertilizer-prices-contribute-to-rising-global-food-security-concerns-ifpri.md) | -7.9% | -10.0% |
| DAP | 2023-02-10 | [Fertiliser prices likely to remain at high level in coming months](https://feedsoft.ai/events/11746-fertiliser-prices-likely-to-remain-at-high-level-in-coming-months.md) | +2.2% | -1.2% |
| DAP | 2021-10-08 | [Fertilizer prices soaring as natural-gas rally adds to ‘perfect storm’ - MarketWatch](https://feedsoft.ai/events/5906-fertilizer-prices-soaring-as-natural-gas-rally-adds-to-perfect-storm-marketwatch.md) | 0.0% | +6.6% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/blog/agriculture/011922-fertilizer-costs-natural-gas-prices

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