The conflict between Russia and Ukraine will lead to the rise of agricultural production costs in Thailand

Foreign media news on March 15: the Counselor’s report released by the overseas agriculture bureau of the U.S. Department of agriculture shows that the conflict between Russia and Ukraine has led to a surge in global crude oil and natural gas prices, which in turn pushed up the price of chemical fertilizer.

Before the outbreak of the conflict between Russia and Ukraine, the rebound in energy prices had led to the surge of fertilizer prices in Thailand to the highest level in 12 years in October 2021, up 68% from January 2021 and further up 88% in December 2021. In 2022, the production cost of major field crops such as rice, corn, sugarcane and cassava in Thailand will rise by 10-17%.

Source: Master Boyi

Post time: Mar-21-2022