Fertilizer price today April 3, 2023

fertilizer prices today, April 3, 2023: Prices of key fertilizers such as Urea, DAP, Potassium, SA, NPK, Phosphate… in the Vietnamese market continue to decrease following the world’s downward trend as well as due to large domestic supply but demand remains low. Although the Mekong Delta has started sowing Summer-Autumn rice, the acreage has not increased significantly, so the demand for fertilizers, especially urea for production, remains low. Meanwhile, according to calculations by fertilizer manufacturers, the total urea supply in March may reach 624 – 649 thousand tons, an increase of 43 thousand tons compared to February and the highest level since June 2020. It is expected that the situation of supply exceeding demand will continue, so manufacturers, traders and agents will continue to face a lot of pressure on price offers in the context of world urea prices continuing to trend downward. According to the Vietnam Fertilizer Association, fertilizer prices are falling rapidly as the cost of natural gas, an important raw material for fertilizer production, and farmers’ demand are both decreasing. In particular, after China began to reopen and no longer restricted the export of 29 types of fertilizers, the supply of fertilizers on the world market is no longer in a state of local scarcity. While at the beginning of 2022, fertilizer prices increased in direct proportion to world oil and gas prices, from the fourth quarter of 2022, although oil and gas prices did not increase, the prices of fertilizers continued to decrease sharply, especially urea. #fertilizer_price #farmers #western region #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials #news #agriculture

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