(Bloomberg) -- Fertilizer prices are skyrocketing on concerns that Russia’s invasion of Ukraine will curtail global supplies.

Prices for the popular nitrogen fertilizer urea in New Orleans surged Thursday to $700 per short ton versus $560 earlier in the week, a 25% jump, according to Bloomberg’s Green Markets. 

Russia was the world’s largest exporter of nitrogen products in 2021. The risk of disruption to shipments comes as costs for fertilizers have already been soaring because of high prices for natural gas in Europe, which forced some plants to halt or curtail production. The spike for the nutrient is stoking concerns about rising food inflation as crop prices climb.

Read More: CF Hits Record as Ukraine Crisis Threatens Fertilizer Supply

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