As the Russia-Ukraine conflict continues to escalate, wider impacts are being seen across a range of global markets including crude oil, food staples such as wheat and oilseeds, and the computer chip industry – a main consumer of neon, of which Russia and Ukraine are a majority supplier.
With Russia’s status as a primary exporter of ammonia, knock-on effects from sanctions imposed on the country have seen the fertiliser supply chain buckle under the weight of increased strain, creating concerns over food security.
Natural gas being a key input for fertiliser production, heightened gas prices have further constricted an already tight market due to the curtailing of production in Europe, causing fertiliser prices to hit an all-time high.
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