The Russian invasion of Ukraine substantially elevates the risk of disruptions in the global fertilizer trade. Russia is the world’s largest exporter of fertilizers, accounting for 23% of ammonia exports, 14% of urea exports, 10% of processed phosphate exports, and 21% of potash exports, according to data from The Fertilizer Institute. The primary destinations of fertilizers from Russia are Brazil (21%), China (10%), the US (9%), and India (4%).
 
Compared to the US, Brazil will be affected more directly as Brazil imports 85% of its fertilizers. Supply in the US should be less of an issue as the US has robust domestic production.
 
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