Fertilizer prices today March 21, 2023: Weak demand, Vietnam reduces urea imports

fertilizer prices today, March 21, 2023: Weak demand, Vietnam reduces Urea imports. In the face of recent fertilizer price declines, Vietnam has also reduced its demand for fertilizer imports. In the first two months of 2023, the country’s total imported fertilizer volume reached over 321,498 tons, worth over 124.31 million USD, with an average price of 386.7 USD/ton, down sharply by 45.9% in volume, down 56.5% in value and down 19.6% in price compared to the same period in 2022. According to records in the first months of 2023, fertilizer prices, especially Urea prices, have decreased sharply compared to the same period. According to experts, this price has almost hit rock bottom. Urea prices may fall further in the coming period due to the recovery of exports from Russia and China, the reduction of input costs for urea production (coal and natural gas) and the remaining low demand for urea. Industry players believe that China’s urea exports will increase in 2023, due to the competitive production costs of coal-fired plants in the country compared to gas-fired plants in Europe. Not only urea, some other types of fertilizers such as DAP, NPK also recorded difficulties in the first months of 2023. #fertilizer_price #farmers #western #fertilizer_price #ure #fertilizer #price #potassium #agriculture #fertilizer #agricultural materials #news #agriculture

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