Fertilizer price today January 29, 2023: Fertilizer price has not fluctuated yet.

fertilizer prices today, January 29, 2023: Fertilizer prices have not fluctuated. Entering 2023, urea prices may decrease as exports from Russia and China will recover, urea input costs (coal and natural gas) may decrease, and urea demand may weaken. A report from SSI Research stated that urea exports from Russia and China will recover. However, it should be noted that both China and Russia have eased export restrictions in the second half of 2022 compared to the first half of the year, SSI expects this trend to last until 2023. Regarding input materials, according to the World Bank, coal production is expected to increase sharply to meet the needs of coal-fired power plants. Expected supply increases and weakening demand due to the global economic slowdown will affect coal prices in 2023. For natural gas prices, Europe’s dependence on natural gas in 2023 may not be as significant as in 2022 as the region shifts to other energy sources such as coal and renewables. This, coupled with reduced demand due to the economic slowdown, is likely to drag natural gas prices down in 2023. Urea demand may weaken in 2023 due to concerns about a global economic slowdown and price adjustments in agricultural commodities. The fourth quarter is usually considered the peak season. However, urea prices did not increase in the fourth quarter of 2022. This reflects weakening demand and demand may continue to weaken in 2023, the SSI report said. #fertilizer_price #farmers #western region #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials #news #agriculture

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