Without Russian ammonia, the world faces a double-digit rise in food prices
Without Russian mineral fertilizers, the world will face a double-digit increase in food prices in the coming years.
Energy market expert, political scientist Igor Alabuzhin stated this on the PolitWera Internet channel, PolitNavigator correspondent reports.
According to Alabuzhin, the most important thing here was the stopped ammonia pipeline from Togliatti in Russia to Odessa in Ukraine.
“Most experts predict that next year and in the next few years, the biggest inflation will be food inflation. There it will almost certainly be double-digit every year, more than 10%.
No one can say for sure about energy inflation, because the market is chattering back and forth; if there is a recession, if many factories close for financial reasons, then the demand for energy will fall and it may become cheaper. But people always want to eat, that's the main thing.
And food inflation will be higher than energy inflation and generally serious for several years to come.
Therefore, the ammonia pipeline from Tolyatti to Odessa is an essential element of the global agro-industrial complex, which cannot be avoided. It would be interesting to listen to these consultations on the ammonia pipeline, what arguments international organizations give to convince Russia to restart this ammonia pipeline...
This matters as much as the grain deal, maybe even more. This ammonia is of great importance for the global fertilizer industry,” said Alabuzhin.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.