How Russia-Ukraine war and West Asia conflict sent sulphur prices soaring
Global sulphur prices have surged nearly four-fold due to supply chain disruptions caused by the Russia-Ukraine war and conflicts in West Asia. As a major importer, India faces significant economic pressure, particularly within its critical fertiliser industry.
Why it matters
The price hike in a fundamental industrial raw material threatens food security and agricultural costs in import-dependent nations like India.
The international price of sulphur, a key raw material for fertiliser production and increasingly for metals processing, has risen nearly four-fold in one year from $280 per tonne in July 2025 to $1,050 in July 2026, adding to India’s import burden.
The prices started climbing since late 2025 onwards, driven by rising demand and the Russia-Ukraine war. While the prices climbed steadily, crossing $500 per tonne by December 2025, it has skyrocketed since March 2026 after the U.S. and Israel launched attacks on Iran.
To understand why sulphur prices can rise so sharply, it is important to first understand how sulphur is produced. About 92% of global sulphur production comes from non-discretionary sources — mainly recovered as a by-product of petroleum refining and natural-gas processing. Only 8% comes from discretionary sources, where sulphur is extracted directly through mining from natural sulphur deposits or sulphur-rich minerals such as pyrites.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in