Fertilizer prices today August 15, 2022: World fertilizer prices cool down

fertilizer prices today, August 15, 2022: World fertilizer prices cool down According to the news of the Vietnam Oil and Gas Group, world fertilizer prices have cooled down since May, although they are still high compared to previous years. Urea prices in North America have dropped more than 33% from their peak, currently trading below 600 USD/ton. Currently, input prices such as coal and natural gas have reversed and decreased, reducing pressure on fertilizer prices. The amount of fertilizer in the world, especially in the Americas, is increasing sharply as farmers limit purchases due to high prices, which is also a factor showing that fertilizer prices are likely to continue to cool down. Many countries in the world have adopted policies to ban or restrict fertilizer exports to ensure domestic supply. However, the policies will expire from 2023, when the world’s fertilizer supply will increase significantly. According to the Vietnam Oil and Gas Group, although world fertilizer prices have cooled down, domestic fertilizer manufacturers are facing a situation where input materials are too high. Compared to this time last year, the prices of some raw materials have doubled, even tripled. Up to now, the total capacity of domestic fertilizer manufacturers is 29.25 million tons/year. Of which, inorganic fertilizer production is 25.2 million tons/year, organic fertilizer production is 4 million tons/year. #fertilizer_price #farmers #western region #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials #news #agriculture

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