Corn farmers in France, the European Union’s top grower, will slash plantings to a four-year low, according to a Bloomberg report, the latest sign of how surging fertilizer costs are risking grain production. France will sow 1.46 million hectares (3.6 million acres) of corn this season, down 6% from last year, and plant more oilseeds instead, its agriculture ministry said May 10. That is an indication of the trade-offs farmers are making due to expensive fertilizers, which grains are more reliant on, it said.
Paris corn futures have soared 51% since the start of the year and are near an all-time high.
Corn farmers in the US are making similar planting cutbacks this year, according to the USDA. Ukraine, another major grower, will see its harvest sink due to Russia’s attack.