Global Fertilizer Prices Slowed Growth in July 2022

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Dzulfiqar Fathur Rahman 25/08/2022 18:20 WIB

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Fertilizer price index growth slowed in July amid a decline in commodity prices, according to World Bank data.

Global Fertilizer Price Index (January 2019–July 2022)

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Global Fertilizer Prices Slowed Growth in July 2022

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Global Fertilizer Price Index (January 2019–July 2022)

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International fertilizer prices slowed their growth in July 2022, although they remained higher than usual.

According to World Bank data, the fertilizer price index stood at 213.08 in July 2022, a 67.83% increase compared to the same period a year earlier (year-on-year/YoY).

This is the slowest annual growth rate since the Russia-Ukraine war broke out at the end of February 2022.

The slowing annual growth trend was also observed in commodities other than fertilizers. The price indices for food, energy, and metals, for example, slowed their growth in July 2022.

This trend follows gloomy projections from international organizations such as the International Monetary Fund (IMF) regarding the potential for a global economic recession.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."