Fertilizer prices today February 17, 2023: Fertilizer price outlook remains complicated

fertilizer prices today, February 17, 2023: Fertilizer price outlook remains complicated Experts say that although fertilizer prices have cooled down a bit compared to last year, what happens this year depends on world supply and demand. Mike Rahm, an independent consultant with many years of experience in agriculture and plant nutrition, and former vice president of strategic and market analysis at the US fertilizer giant Mosaic, said that this year’s Fertilizer market remains complicated despite improvements. Accordingly, natural gas prices in the European Union (EU) are still the main driver of global nitrogen prices because natural gas is still the main raw material for producing ammonia nitrogen. It is estimated that the European Union accounts for about 9% of the world’s total ammonia production capacity (about 22 million tons) and current output is about 16 million tons. The EU has long been a major importer of natural gas from Russia, but Russia has significantly cut supplies to the bloc in retaliation for sanctions imposed after its attack on Ukraine, causing international prices to rise significantly, the International Energy Agency (IAEA) said. #fertilizer_price #farmers #western region #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials #news #agriculture

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