USGS releases first study to assess global earthquake risk to mineral supplies
Earthquakes have the potential to substantially affect mining operations, leading to supply chain disruptions that adversely affect the global economy.
Ag Journal reports it’s been a hot summer, but the fertilizer market is even hotter, and that has farmers worried about whether they will be able to get what they need at a price they can afford.
According to the Economic Research Service of the U.S. Department of Agriculture, fertilizer prices in 2011 are expected to exceed the previous year by 24 percent. Back in May, the price of phosphate was 31 percent higher compared with the same quarter the previous year, and the price of potash was 20 percent higher. Typically fertilizer prices move higher from August to December, which explains why stocks in big fertilizer manufacturers tend to gain 15 percent, on average, during that period.
Ag Journal reports “There’s a lot of fear out there,” said Tim Ridnour, agronomy division manager for Stratton Equity Cooperative, which operates five locations in central and northeastern Colorado. “We’ve been urging farmers to communicate their needs to us earlier and earlier. It isn’t a two or three month deal anymore; it’s a year to 18 months. You better stay on top of it or you might not get it.”
