Stories
Soaring Sulfur Prices: Will Your Plate Get Pricier? Farmers' Tensions Mount.
- •Sulfur prices have surged from $100 to $400-500 per ton due to the Russia-Ukraine war, making fertilizer production more expensive.
- •Approximately 60% of global sulfur is used in fertilizer production, directly impacting food prices as its cost rises.
- •90% of sulfur comes from oil refineries and natural gas processing; Ukrainian attacks on Russian oil refineries are disrupting supply.
- •Growing demand for electric vehicles is also driving up sulfur prices, as sulfuric acid is used to extract nickel for EV batteries.
- •India imports over 50% of its sulfur needs, leading to increased pressure on farmers and higher crop cultivation costs.
Key Questions Answered
Sulfur prices have more than doubled due to the conflict. Before the war, sulfur was selling for $100 per ton, but prices surged to between $400 and $500 per ton following the outbreak in 2022, with imported sulfur in India later reaching up to $1,100 per ton.
About 60 percent of worldwide sulfur is used in fertilizer production, which is essential for growing many crops. When sulfur becomes expensive, the cost of making fertilizers increases, which ultimately raises the prices of food items in the market and puts financial pressure on farmers.
Sulfuric acid made from sulfur is used to manufacture electric vehicle batteries and to extract nickel, a crucial raw material. Consequently, the rising demand for electric vehicles has driven up sulfuric acid consumption, with nickel industry demand jumping from 3.5 million tons in 2021 to 16 million tons in 2025.
