Fertilizer prices on November 22, 2021 | Latest fertilizer and agricultural materials market today

fertilizer prices today, November 22, 2021: Fertilizer prices continued to stay high at the beginning of the week, after increasing by VND50,000 – 70,000/bag last week. Supply and export constraints from major producers, coupled with high demand in many markets, continued to push fertilizer prices higher. All major fertilizer products maintained high prices, led by urea prices. Urea prices rose last week as India continued to increase purchasing demand while major suppliers such as China, Russia and Egypt restricted or stopped exports. China’s urea reserves and approach to exports suggest that its thirst for the commodity will last at least until the first quarter of 2022. China, the world’s leading urea producer, has restricted exports to maintain domestic inventories for next spring. Despite the energy crisis and export restrictions, Chinese urea producers increased their production rates by 8 percentage points to 71% in October. At this rate, China could add at least 2 million tons of urea to the domestic market in the fourth quarter. The cost of urea production in China is $420/ton.

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