Fertilizer consumption in Europe may drop by 10% year-over-year as higher prices deter farmers from buying nutrients, according to the Secretary-General of Brussels-based Copa-Cogeca, which represents European Union (EU) farmers and agri-cooperatives.
Copa-Cogeca Secretary-General Pekka Pesonen told Bloomberg in an interview that most EU farmers plan to use less fertilizer and rotate to plants requiring less nutrients in a bid to cut the cost of production. Pesonen said this will impact the quality of wheat planted, given it is a nitrogen-intensive crop.
He said fertilizer stockpiles are currently “well below” the levels built up in previous years after farmers depleted these inventories in the last season when input prices soared.
High fertilizer costs have made it difficult for farmers to replenish their stocks and acquire supplies for the spring season, Pesonen said.
Prices are becoming prohibitive for many farmers in the EU to use fertilizers, he said.
Copa-Cogeca is urging EU Member States to approve the temporary suspension of tariffs on fertilizers to ease a supply shortage.