Japan to prop up fertilizer output with subsidies amid inflation
TOKYO — Japan will ramp up domestic fertilizer production to enhance economic security amid rising fertilizer prices globally due to the Ukraine war, Nikkei has learned.
Japan depends on imports for nearly all domestic use of nitrogen, phosphorus and potassium. After the Russian invasion of Ukraine, domestic fertilizer prices jumped 40% in November from a year ago amid global supply concerns and a weak yen. Japan depends on China for around 90% of its phosphorus imports.