UAE Fertiglobe: The high nitrogen fertilizer prices may continue to rise.

Abu Dhabi Fertiglobe Plc. CEO Ahmed El-Hoshy said that due to key supplies being still trapped in the Persian Gulf, prices of nitrogen fertilizers may continue to rise. The actual closure of key waterways has disrupted about one-third of global maritime fertilizer trade, exacerbating concerns over food crises and prompting countries to scramble to find alternative sources for farmers. Crop prices have not caught up with the skyrocketing costs of nutrients and fuel, meaning that farmers are unable to offset the surge in expenses. Fertiglobe has observed a slowdown in purchasing in regions such as sub-Saharan Africa and Australia.