Fertilizer price today September 24, 2022: Urea price sets new price level in 2023

fertilizer prices today, September 24, 2022: Urea prices set a new price level in 2023 In 2023, Vietnam Investment and Development Bank Securities Company (BSC) maintains a neutral view on the fertilizer industry because the high base level will be the biggest challenge to business growth. BSC expects Urea prices to cool down from 2023, however, a new price level will be established. BSC expects prices of raw materials for Urea production such as coal and natural gas to cool down in the long term thanks to global energy costs normalizing in the long term and Europe finding an alternative source of natural gas to Russia. The research team also forecasts that Urea will adjust from 2023, however, the decline in fertilizer supply in Europe will support Urea prices to set a new price level. “We expect urea prices to fluctuate around $400-$550/tonne in 2023-2024,” the report stressed. BSC also believes that European natural gas prices will establish a new price level in 2023-2024 due to the large infrastructure construction costs to replace supplies from Russia. This will cause global fertilizer supplies to decline due to increased fertilizer production costs in Europe, some fertilizer plants will cut production or close permanently. #fertilizer_price #farmers #western region #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials #news #agriculture

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