Fertilizer 241022Fertilizer price today October 24, 2022: Why did global fertilizer prices turn to decrease?

fertilizer prices today, October 24, 2022: Why did global fertilizer prices turn to decline? Global fertilizer prices are falling as previously high prices weakened demand, farmers stopped buying, causing a supply glut. Earlier this year, fertilizer prices hit record highs after sanctions on Belarus – the world’s largest fertilizer producer – took effect and the Russia-Ukraine conflict escalated. Global fertilizer companies then increased purchases and shipments of large quantities of products to avoid supply chain problems and trade restrictions in export markets such as Russia. Such moves led to fertilizer inventories in some key areas and people stopped buying because of high prices – a development that is weighing on the market. This situation is also happening in the US – the world’s largest fertilizer consumer and corn exporter, and Brazil – the agricultural powerhouse and largest soybean supplier. “Farmers are turning away from fertilizer. Global demand for ammonia, phosphate and potash is all down,” said Bloomberg Intelligence analyst Alexis Maxwell. #fertilizer_price #farmers #western #fertilizer_price #giaure #giaphan #giadam #gianpk #giakali #nongnghiep #fertilizer #agricultural_supplies #news #nongnghiep

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