Fertilisers play a critical role in food production and security. At the peak of gas prices in 2022, gas accounted for 90% of the variable production cost of nitrogen fertilizers, resulting in a 149% increase in nitrogen fertiliser prices for EU farmers as of September 2022 compared to September 2021. This surge was even more significant compared to 2020, with the price of fertilisers reaching historical highs, peaking at a 350% increase, and averaging around 250%.
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