Tokyo, June 8 (Jiji Press)–Agriculture ministers of the Group of Seven major industrialized nations on Monday reaffirmed their commitment regarding fertilizer supplies amid the Middle East turmoil. In an extraordinary meeting held online, the ministers from Britain, Canada, France, Germany, Italy, Japan and the United States plus the European Union agreed to monitor the impact of fertilizer supply disruptions and surging prices on the sustainability of agriculture business management and to work on diversifying supply chains and ensuring market transparency. A significant proportion of some fertilizer ingredients is sourced from the Middle East, contributing to higher prices. “It was a very meaningful meeting because we were able to demonstrate our strong commitment to come together and take measures,” Japanese agriculture minister Norikazu Suzuki told reporters after the meeting. Suzuki said that he called for improving market transparency, including by avoiding unilateral measures, with China and other countries that impose export controls in mind. The de facto blockade of the Strait of Hormuz, a key global trade waterway, has disrupted the supply of chemical fertilizers made from natural gas and minerals, raising concerns about a food crisis in some developing countries in Africa and Asia. France, which holds this year’s G7 presidency, hopes to reflect the results of the meeting in the group’s summit scheduled for June 15-17. Japan relies on imports for almost all of key chemical fertilizer ingredients. Still, its reliance on the Middle East is low, with most of urea procured from Malaysia and ammonium phosphate from China and Morocco. Globally, about 40 pct of urea and 20 pct of ammonium phosphate are sourced from the Middle East. Due to rising international market prices, Japan’s National Federation of Agricultural Cooperative Associations, or Zen-Noh, was forced to raise the prices of imported urea for supply in June-October by 14.5 pct. END [Copyright The Jiji Press, Ltd.]
G7 Committed over Fertilizers amid Middle East Turmoil
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