More

    Food inflation to rise further as ‘global fertiliser supply expected to fall’

    (Photo by CARLOS JASSO/AFP via Getty Images)

    Food inflation are set to surge further at the end of the year as reduced global fertiliser supply for essential crops is expected to put pressure on the country’s farming industry. 

    According to finance analyst company S&P Global Market Intelligence, the UK can expect a 16 per cent year-on-year fall in global exports in the final quarter, leading to internationally traded fertiliser supplies falling in demand if prices continue to increase. 

    The drop has been attributed to a range of factors- high input costs for gas and reduced shipments from key fertiliser suppliers such as Belarus, China and Russia. 

    The volume of Russian fertiliser exports is down 30 per cent compared with early 2022, and China down by more than half, after the two countries limited overseas sales of fertiliser. 

    As Russia is Europe’s biggest source of gas, and fertilsier prices hinge heavily on volatile inputs such as gas, costs are set to dramatically rise due to restricted resource supply as a result of the Ukraine invasion. 

    A fall in demand could also mean an expansion of crops that are less fertiliser-dependent, such as soybeans. 

    The warning comes a day after Office for National Statistics released the data showing that food prices have pushed inflation back to the 40-year high at 10.1 per cent, rising from 9.9 per cent in August.  

    Latest

    Tropicana expands range with new Tropicana Kids Smoothies

    Chilled juice brand Tropicana is expanding its offering with...

    Pukka celebrates peak pie-eating season with hat-trick of new recipes

    Pie brand Pukka is kicking off pie-eating season with...

    Exclusive: Indie retailers bringing ‘wow’ factor to convenience

    With renewed importance of convenience channel when it comes...

    Leerdammer takes a walk on the mild side with “Deliciously Different” campaign

    Lactalis UK & Ireland is launching a new highly...

    Don't miss

    Tropicana expands range with new Tropicana Kids Smoothies

    Chilled juice brand Tropicana is expanding its offering with...

    Pukka celebrates peak pie-eating season with hat-trick of new recipes

    Pie brand Pukka is kicking off pie-eating season with...

    Exclusive: Indie retailers bringing ‘wow’ factor to convenience

    With renewed importance of convenience channel when it comes...

    Leerdammer takes a walk on the mild side with “Deliciously Different” campaign

    Lactalis UK & Ireland is launching a new highly...

    Ahmad Tea unveils Christmas 2023 Tea Gifts Collection

    Family-owned UK beverage company Ahmad Tea has unveiled its...

    Exclusive: Indie retailers bringing ‘wow’ factor to convenience

    With renewed importance of convenience channel when it comes to grocery and basic household items, many independent c-store owners are opting for a jazzy...

    ‘Shop looting’ on rise as lack of police action costs Co-op £33m

    Lack of action against thieves has cost Co-op £33 million in the first half of 2023, grocery chain boss has said, calling on the...

    Food sales boosted in August as consumer hit high street again

    Retail sales have risen 0.4 per cent in August compared to a slight fall of 1.1 per cent in July primarily driven by better weather, shows recent...