Fertilizer Index Hits Record, Threatening Higher Food Prices
- Surge of North American nutrient gauge surpasses 2008 peak
- Rising prices threaten farmers and exacerbate food inflation
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A gauge of North American fertilizer prices soared to a record high, driving up costs for farmers and threatening to worsen food inflation.
The Green Markets North America Fertilizer Price Index rose 7.9% to $996.32 per short ton, soaring past its 2008 peak to set a new benchmark for the index that began in January 2002.