Stay informed with the LNN Daily Newsletter
Courtesy: CHAT Newsroom

Fertilizer prices remain relatively high

Feb 2, 2023 | 4:52 PM

CYPRESS COUNTY, AB – Canadian farmers saw a 148 per cent spike in fertilizer prices last year – which was record high.

There were also worries for fertilizer shortages for 2023.

While no shortage presently exists, the price of fertilizers remains relatively high for farmers.

Fertilizer, which can be a natural or synthetic, is essential for food security in the world. It helps replenish the soil of nutrients and boosts crop yields.

Dustin Vossler, a Cypress farmer and councillor, says fertilizer prices slightly decreased in January. But he’s finding fertilizer costs are still higher than pre-pandemic numbers.

“It’s still up from what it was two years ago. It’s looking more promising, but overall crop inputs for 2023 are probably up by 5%” said Vossler.

He believes many factors are responsible for higher prices – the monopoly on fertilizers, the war in Russia and the overall economic state.

“I think the price increases has to do with the war in Russia. A lot of it is corporate greed. It doesn’t cost as much to take and make it [fertilizer] as they say it does,” said Vossler.

Nutrien, a Canadian fertilizer company, in an article, attributes the higher prices to production and energy costs, geopolitical influences, climate change and natural disasters and supply chain issues.

Vossler is unsure of how the government could help farmers with the high costs, but he says the government needs to consider the current state of agriculture and where it’s currently at.