The war between Russia and Ukraine, which has been going on for about a month, has negatively affected our lives in all areas. Yes, we did not enter the war, but the fact that Russia is one of the leading countries in the world, especially in the energy sector , directly affected fuel prices. The continuation of embargoes with this war process reveals that we will have a new problem in the near future. According to the statements made, the world is approaching a global food crisis step by step.
Svein Tore Holsether, CEO of Yara International , one of the world's leading fertilizer manufacturers, made some assessments on the agenda. According to the CEO, speaking to the Wall Street Journal, stopping the supply of fertilizer raw materials from Russia has interrupted production. As a natural consequence of this , both fertilizer prices will increase and food production all over the world will decrease due to insufficient supply . Svein Tore Holsether states that as a natural consequence of this, there will be a global food crisis.
According to industry sources, Russia was one of the world's largest fertilizer raw materials producers before entering the war . So much so that the country was the world's number one exporter of essential fertilizer components such as urea, ammonia and potash. In fact, Russia alone met 20 percent of the global fertilizer export market . But the unjust war against Ukraine caused all this to come to a standstill.
This is not a guess or an allegation. When we look at Bloomberg's North American Fertilizer Price Index, we see that fertilizer prices have increased by 10 percent in the past days, reaching the highest level in history with this rise . This means that food costs will increase and we will face food inflation. The sad thing is, as the war continues, the embargoes against Russia will not be lifted and this situation will continue to directly affect Turkey, which did not enter the war .