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One of the key reasons for rising food prices is heavy demand for food commodities from China. Other factors driving food prices include supply disruptions and a slowdown in shipping. Because these factors are expected to continue driving food prices up in the near term, the agriculture industry is expected to continue benefiting. According to a Meticulous Research report, the agricultural micronutrients market is expected to grow at a 8.7% CAGR between 2020 – 2027.
Given this backdrop, we think it could be wise to bet on CF Industries Holdings, Inc. (NYSE:CF) and Intrepid Potash, Inc. (IPI). They are well positioned to capitalize on the agriculture industry’s growth.
