World Daily News
Business
Egypt

Egypt's Fertilizer Crisis: Farmers Face Historic Price Surge and Supply Shortages

Images from the reference sources
Egypt's agricultural sector is in crisis as fertilizer prices soar to historic levels amid supply shortages, threatening farmers' livelihoods and food security. The government faces pressure to implement solutions to address the escalating challenges.

The agricultural sector in Egypt is facing a severe crisis due to a significant decline in the supply of fertilizers, which has led to skyrocketing prices and threatens the livelihoods of farmers. The cost of fertilizers has surged nearly threefold in recent months, exacerbated by a natural gas shortage and rising global energy prices. Farmers across the country are struggling to secure their quotas of subsidized fertilizers, leading many to turn to the black market where prices are exorbitantly high.

Farmers like Engineer Marwa Youssef from Alexandria have reported not receiving their full share of fertilizers for consecutive months, jeopardizing their summer crops. The government has pledged to address the crisis, yet many parliamentary representatives are demanding a concrete plan to resolve the fertilizer shortage and alleviate the challenges faced by farmers. The situation is further complicated by the rising inflation rate affecting the prices of fruits and vegetables, which are at record highs due to the fertilizer crisis and climate change.

The head of the General Farmers Syndicate has warned that the agricultural sector is in a precarious state, as the shortage of fertilizers could lead to diminished agricultural output and increased prices in the market. With the cost of urea fertilizer reaching 21,000 pounds ($426.84) per ton in the free market, many farmers are being pushed to reduce their cultivated areas, threatening food supply and economic stability.

Amidst the chaos, the Ministry of Agriculture has indicated that they are working to distribute available fertilizers more effectively, but the actual supply has fallen short of demand. With the agricultural sector being a crucial part of Egypt's economy, the fertilizer crisis poses not only a threat to farmers but also to the overall food security of the nation.

  • The fertilizer crisis in Egypt has been attributed to multiple factors, including the misallocation of subsidized fertilizers, which has led to disparities in distribution among farmers. Some farmers are receiving their quotas while others are left without, prompting accusations of corruption and inefficiency in the distribution system. This has also resulted in the emergence of adulterated fertilizers in the market, further complicating the situation for farmers who are already struggling to cope with high prices.
  • Economic experts have expressed concern that without immediate government intervention, the agricultural sector could face long-term repercussions, including a decrease in export revenues and a rise in food prices that would further strain the purchasing power of citizens. The government is under pressure to implement effective solutions to ensure that farmers receive the necessary support and resources to sustain their livelihoods.
Clam Reports
Refs: | Aljazeera |

Trends

Business

Russian Banks Expand Operations in Eastern Ukraine: Sberbank and VTB Lead the Charge

2024-09-15T11:34:33.432Z

Discover how Sberbank and VTB are expanding their operations in eastern Ukraine amid ongoing Western sanctions, marking a significant shift in Moscow's economic strategy in the region.

Business

Saudi Arabia's Embrace of the Petroyuan: A Strategic Shift in Global Trade Dynamics

2024-09-15T16:03:50.439Z

Discover how Saudi Arabia's potential shift to the petroyuan could reshape global trade dynamics. Explore the growing economic ties between Saudi Arabia and China, and the implications for the future of international currency systems.

Business

Inflation in Israel Soars to 3.6% Amid Ongoing Gaza War: Economic Impacts and Government Response

2024-09-15T19:13:31.342Z

Discover how the ongoing Gaza war has led to a sharp rise in Israel's inflation rate, reaching 3.6%. Explore the economic implications and the government's response to this crisis.

Business

Germany’s Economy Faces Slow-Burning Crisis: ECB’s Nagel Calls for Urgent Action

2024-09-15T16:33:38.278Z

German economy struggles amid inflation concerns as ECB's Nagel emphasizes the need for urgent reforms. Former ECB President Draghi warns of a slow-burning crisis requiring substantial investments.

Business

Wachipato Steel Mill Closes: 2,700 Jobs Lost, Unemployment to Spike in Chile

2024-09-16T07:33:43.852Z

The closure of Chile's largest steel mill, Wachipato, threatens 2,700 jobs and could raise unemployment by 2.5%. Learn about the economic impact and community response to this significant industrial shift.

Business

Hurricane Francine Disrupts 30% of U.S. Oil Production: A Severe Impact on the Energy Sector

2024-09-15T19:03:51.659Z

Hurricane Francine has caused a staggering 30% disruption in U.S. oil production and 41% in natural gas, impacting energy facilities across the Gulf of Mexico. Discover the storm's effects and recovery efforts.

Latest