Authored by Michael Snyder via The Economic Collapse blog,
We might want to listen to what the farmers are telling us, because if they don’t grow our food we do not eat.Coming into this year, we were already facing the worst farming crisis in America in at least 50 years. Farmers all over the nation are drowning in debt, and farm bankruptcies have been soaring. In all my years, I have never seen America’s farmers so angry, and now the crisis in the Strait of Hormuz has made things much worse. Spring planting season is here and there is a global scramble for whatever supplies of nitrogen fertilizer that happen to be available. As a result,prices have skyrocketed and farmers all over the planet are facing some incredibly tough choices.
That is even true here in the United States.
According to a brand new surveythat was just conducted by the American Farm Bureau Federation,70 percent of U.S. farmers say that they will not be able to purchase all of the fertilizer that they need in 2026 because it has become so expensive…
Conducted by the American Farm Bureau Federation April 3-11, the survey shows 70% of respondents say fertilizer is so expensive that they will not be able to buy all the fertilizer they need.
More than 5,700 farmers, both Farm Bureau members and non-members, from every state and Puerto Rico took the survey. Farm Bureau economists analyzed the results in the latest Market Intel.
The analysis reveals that almost 8 in 10 farmers in the southern U.S. say they can’t afford all needed supplies this year, followed by the Northeast and West at 69% and 66%, respectively, compared to 48% of the farmers in the Midwest.
Fertilizer prices were already at frighteningly high levels even before the war with Iran started, and since that timethey have surged dramatically…
Nitrogen fertilizer prices have gone up more than 30 percent since the start of the conflict on Feb. 28, according to Market Intel. Combined fuel and fertilizer costs have also risen between 20 and 40 percent, with urea prices jumping 47 percent since late February.
Many people out there don’t seem to understand this yet, but this is going to affect all of us.
Source: ZeroHedge News
