Global fertiliser prices are predicted to shoot up by 30.7% in 2026. This sharp increase could make food production more expensive. It also risks making food prices rise faster in countries like Ghana.
This worrying forecast comes from the World Bank's latest report. The report is called the April 2026 Commodity Markets Outlook. It highlights that fertiliser markets are becoming unpredictable again. The World Bank believes these price changes are mainly due to unpredictable energy prices. Political events around the world also play a part. Natural gas is a crucial ingredient in making fertilisers. Higher natural gas costs will directly impact fertiliser costs.
The expected price rise will likely mean higher costs for farmers everywhere. This has big consequences for how much food we can produce globally. In Sub-Saharan Africa, many farmers already struggle to afford enough fertiliser. This problem will get worse. Higher prices could stop farmers from buying the fertiliser they need. This may lead to smaller harvests. It could also mean less food is available overall.
Ghana's agricultural sector relies heavily on imported fertilisers. This projected price increase will put more strain on food prices in Ghana. It will also affect what households can afford to spend on food. The World Bank expects prices to come down a bit in 2027. However, it warns that the sudden price jump in 2026 could worsen food inflation. This could make food security issues worse. This is especially true for poorer countries in the region.
Experts in global trade and agriculture will closely watch these price movements. The World Bank's forecast suggests that governments and agricultural bodies need to plan for these challenges. Finding ways to support farmers and stabilise food supplies will be crucial. This includes looking at alternative fertiliser sources or local production methods. The global hunger index and food security reports will likely reflect these trends.
The World Bank's outlook serves as an important warning. It signals potential economic stress for many households. It also highlights the interconnectedness of global energy markets and food security. Decisions made by policymakers in Ghana and other affected nations will be key to managing these risks. The impact on the cost of living for ordinary Ghanaians is a significant concern.