Russia produces roughly two-thirds of the world’s ammonia nitrate.
Russia imposed a ban on ammonium nitrate export for two months, until April 2, the government’s press service said on Tuesday.
“The two-month ban on ammonium nitrate export comes into force from February 2. The relevant decree of the government was signed,” the press service said.
“This is a temporary measure. The remaining volume can be exported from April 2, when Russian companies will receive the ammonium nitrate in required volume and the demand for it on the domestic market will pass peak values,” First Deputy Prime Minister Andrey Belousov said.
“Wow, that’s a problem, Chris.” I know, right?
There is no way food prices don’t go up. A lot. I know I’ve mentioned this before, probably a few times, but it’s super important. When food prices rise to a point where they exceed 30% of disposable income, civil unrest and revolution become highly probable. Maybe not 2022, but at some point in the next few years we’re almost guaranteed a revolution, maybe more than one in countries which you’d never have thought such a thing possible.
Sticking with this part of the world..
Belarus will ban oil and chemical products from crossing its territory from Lithuania, including fertilisers, in response to Lithuania’s decision to stop the transit of potash fertiliser from Belarus, the Belarusian foreign ministry said on Wednesday.
The ban comes into effect on Feb. 7, the ministry said, adding that the products in question amounted to 1.6 million tonnes a year, and were worth more than $1 billion.
Lithuania ceased transporting the potash, a major cash earner for Belarus, after the Vilnius government decided the transit goes against its national security interests.
Could it be that the market is waking up to what we’ve been hammering on about for two years now? That we’re going to have a food crisis and resource nationalism is going to become more popular than a “cancel Joe Rogan party” at Gavin Newsom’s place.
Here are two you should own if you don’t already.