The Fertilizer Industry’s Profit Surge: Amplifying the Global Food Crisis

The Institute for Agriculture and Trade Policy (IATP) and GRAIN released an update to their “The Fertilizer Trap” report. It reveals that the profits of the top nine fertilizer companies exponentially grew from around US$14 billion before COVID-19 to US$49 billion last year. This surge in profits exacerbated the global food crisis, as farmers struggled with rising production costs. Despite attributions to the Russian-Ukrainian war, this analysis shows that the monopoly power of fertilizer companies significantly contributed to inflated prices and boosted their profit margins to 36% in 2022. Read more