A perfect storm of events has led to a dramatic increase in fertilizer prices that is expected to last well into next year. Supply chain disruptions across the board due to the Covid-19 pandemic, recent storms, and other factors have disrupted production and logistics for the fertilizer supply chain, and thus decreased available supply and increased prices for end users. In addition, supply has been curtailed with the implementation of tariffs on certain fertilizer imports, and increased natural gas prices has increased the price of producing fertilizer products.
More below:
https://aei.ag/2021/10/11/fertilizer-prices-impact-farm-budgets-2021/
https://www.agri-pulse.com/articles/16584-farmer-sentiment-drops-as-future-expectations-soften