Soaring fertilizer prices across the globe have impacted farmers making it more expensive to produce food and forcing them to cut back on production, The Wall Street Journal reported.
Diammonium phosphate, or DAP, a common component of fertilizer, cost $745 per metric ton in December 2021, more than double its average 2020 price, the WSJ reported.
Higher fertilizer costs could translate into increased food prices in the next year, worsening global hunger after the pandemic caused massive job losses and further growing inflation, the WSJ reported.
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