fertilizer prices today, March 21, 2022: Fertilizer prices of all kinds stagnated at high levels. Concerns about rapid increase in potassium The volume of fertilizers produced by Russia accounts for about 30% of the total fertilizer supply worldwide. In particular, Russia supplies up to 70% of input materials for fertilizer production in Europe. Therefore, the impact of the Russia-Ukraine war is causing world fertilizer prices to fluctuate strongly. On the other hand, restrictions and bans on the export of some key fertilizer products of Russia and China have not shown signs of being lifted. This will cause the supply of fertilizers, especially potassium and DAP, to decrease severely in the coming time. For potassium fertilizers, currently 100% of potassium fertilizers in Vietnam rely on imported goods. Of which, Belarus and Russia are the two largest suppliers in the world, accounting for 40% of global supply. With the current panorama, the price of potassium will skyrocket in the near future, especially potassium flakes. Suppliers confirm that imported potassium to Vietnam in the near future will be absent from goods from Russia and Belarus. According to the Agromonitor Center for Agricultural Market Analysis and Forecast, the price of potassium in Vietnam has been increasing sharply in recent days due to concerns about the tightening of potassium supply in the world market due to Western sanctions against Russia and Belarus. Even if the price of imported potassium reaches 1,000 – 1,200 USD/ton, potassium flakes will set a new peak of 24 – 25 million VND/ton. ************************************************ Thank you everyone for taking the time to watch the channel’s videos. Remember to like and subscribe to the channel to support the Western Farmers! ==================== Youtube channel provides information on products, prices, care techniques, and farming techniques of the Western Farmers. Follow the Western Farmers channel: Follow the Farmers’ News channel: Follow the Western Agricultural Market Prices channel: Facebook Group: #fertilizer_price #farmer #western #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials
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Fertilizer prices today March 21, 2022: Fertilizer prices stagnant at high levels. Concerns about soaring potassium prices
