Agricultural Inputs

Like people, plants need a multitude of nutrients to thrive. These are categorized into micronutrients, such as zinc and iron; secondary macronutrients; such as calcium and magnesium; and three primary macronutrients: nitrogen (N), phosphorus (P), and potassium (K). Mineral fertilizers provide higher and more plant accessible nutrients, while organic minerals importantly also provide carbon, which contributes to healthy soils.

The unfolding crisis in Ukraine has roiled commodity markets and threatens global food security. Ongoing fallout from the COVID-19 pandemic and other factors have already driven up food prices. Poor harvests in South America, strong global demand, and supply chain issues have reduced grain and oilseed inventories and driven prices to their highest levels since 2011-2013.

In 2018, African swine fever (ASF), a deadly hemorrhagic disease found in pigs, was reported for the first time in China. By mid-2019, the disease had infected hundreds of millions of pigs—anywhere from 30 to 70 percent of the country’s swine population. Millions of pigs were culled in an effort to slow the spread of the disease, resulting in a drastic reduction in the volume of Chinese pork produced.

The FAO Food Price Index rose 3 percent in October to reach its highest level since July 2011. The October Index stood 31.3 percent higher than its October 2020 levels. Last month’s increase was driven primarily by cereal (particularly wheat) and vegetable oil prices.

The FAO Food Price Index continued to rise in September, driven by increasing cereal and vegetable oil prices. The Index was up 1.2 percent from August 2021 and 32.8 percent from September 2020.