Fertilizer prices today April 3, 2022: Fertilizer prices of all kinds continue to stagnate at high levels

fertilizer prices today, April 3, 2022: Fertilizer prices of all kinds continue to stagnate at high levels. The DAP Fertilizer market is limited as China continues to reduce fertilizer exports. According to the Plant Protection Department, the world Fertilizer market has been severely affected by the prolonged COVID-19 pandemic, causing supply shortages and supply chain disruptions, and is now even more severely affected by the Russia-Ukraine tensions that have strongly impacted the world Fertilizer market in terms of supply reduction and price increases. In the first two months of this year, China and Russia were the two largest fertilizer suppliers to Vietnam, accounting for a total of 50% of the total volume of fertilizer imported into our country. Of which, China accounted for 38% and Russia accounted for 12%. However, China’s fertilizer export restrictions since the end of last year and the disruption of supply from Russia after the conflict with Ukraine broke out are posing major challenges to the Vietnamese fertilizer industry. In China, the government’s increased control of fertilizer exports to ensure domestic supply has caused the amount of fertilizer exports to continuously decline since October last year. According to data from China Customs, the country’s fertilizer exports in the first two months of this year fell sharply by 27.8% compared to the same period last year, down to 2.5 million tons. These developments have greatly affected the supply of some types of fertilizers that domestic production has not met consumer demand and are heavily dependent on Chinese imports such as Potassium and DAP. In the world market, China’s fertilizer export restrictions combined with the conflict between Russia and Ukraine have put the global Fertilizer market at risk of a supply crisis. World fertilizer prices have accordingly increased by 40-45% compared to the time of the conflict between Russia and Ukraine. This is expected to affect Vietnam’s fertilizer prices in the coming time. #fertilizer_price #farmers #western region #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials #news #agriculture

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