Fertilizer price today March 10, 2022: Fertilizer price breaks 50-year peak, Farmers complain

fertilizer prices today, March 10, 2022: Fertilizer prices break 50-year peak, forecast to continue to be “tense as a bowstring”, Farmers lament. The shortage of supply from Russia and Ukraine has caused fertilizer prices to increase by more than 20%. However, according to forecasts from a number of businesses and experts in the industry, fertilizer prices may increase sharply in the coming time. Farmers now only know how to make a profit when fertilizer prices increase sharply. If the crop fails, they will lose money. Fertilizer prices sold at this time in the domestic market have officially set a new peak, within 50 years. This situation is said to be related to the war situation between Russia and Ukraine. In particular, Russia (along with China), the two largest fertilizer exporters in the world, have limited sales to stabilize the domestic market. At the same time, partly due to the impact of sharp increases in oil and gas prices. Natural gas accounts for 90% of the cost of ammonia production. The European Union’s sanctions on Belarus, which accounts for 20% of the global supply of potash, have also raised concerns about the Fertilizer market. Fertilizer costs account for 40-60% of total input costs in agricultural production. Therefore, high fertilizer prices will immediately affect farmers. Especially when the price increase falls during the preparation period for the Summer-Autumn crop, which is usually planted in April-May every year. The owner of a fertilizer distribution business in Tay Ninh province confirmed that there has been an increase in prices for NPK products. However, he did not give specifics. “Prices are still fluctuating strongly, so when customers buy, we will quote the price at that time,” he told reporters. The increase in fertilizer prices has made farmers even more worried. Mr. An, who has several hectares of sugarcane in Trang Bang town (Tay Ninh), said: “The day we were about to plant sugarcane for the Summer-Autumn crop was approaching, and then this terrible news happened. Not only did the price of gasoline increase, but the price of plows also increased. Workers also demanded a raise because their living costs increased. If we keep doing things like this, how can we make a profit? Now I just hope there is a way to support or control fertilizer prices because it accounts for a large percentage of our farmers’ expenses.” Last year, the price of Summer-Autumn rice in the Mekong Delta provinces was “dirt cheap.” Many farmers suffered a life-long loss. Mr. Tuan Anh, living in Can Tho, confided: “Our family is looking for some alternative options, because buying fertilizer now for the Summer-Autumn crop means certain death.” According to the plan, Mr. Tuan Anh’s family will sow rice in mid to late March. But they may move to mid-April to “hear more about the situation.” *********************************************** Western Farmer Channel Updates the latest market prices of all types of fertilizers every day for you. *********************************************** Thank you for taking the time to watch the channel’s videos. Remember to like and subscribe to the channel to support Western Farmer! ==================== Youtube channel provides information on products, prices, care techniques, and farming techniques of Western Farmer. 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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