Fertilizers
Overview
The fertilizer industry has seen dramatic changes in market dynamics, with challenges posed by policy and regulatory changes, political instability, conflicts and new macroeconomic realities. The drive towards energy transition and ambitious zero-carbon goals has also opened up the industry to new entrants and new opportunities.
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Latest fertilizer news
Browse the latest market moving news on the global fertilizer industry.
Global fertilizer affordability drops to 2½-year low
Global fertilizer affordability drops to 2½-year low
London, 24 March (Argus) — Global fertilizer affordability has dropped to its lowest in two and a half years, driven by firm phosphate and potash prices, while crop values have dipped to the lowest since 2020. Nutrient affordability fell to 0.82 points in March, the lowest since November 2022, Argus data show. An affordability index — comprising a fertilizer and crop index — above one indicates that fertilizers are more affordable compared with the base year set in 2004. An index below one indicates lower nutrient affordability. The index has dropped owing to higher fertilizer prices for phosphates and potash, which were partly offset by a decline in urea prices. Crop prices have fallen for all major grains and oilseeds on trade tensions. Phosphate prices were supported by competing demand for limited supply. The absence of Chinese product from the global phosphates market since late 2024 has kept supply tight. Additionally, a lack of clarity surrounding China's return to the export market, while firm sulphur and sulphuric acid costs force domestic DAP/MAP prices higher, has prevented any softer sentiment in the region. Competition between India and Ethiopia has driven DAP demand east of Suez. A significant decline in stocks in India by the end of its high season forced buyers to remain in the market during the off season. This coincided with Ethiopia switching to import DAP from NPS from the third quarter of 2024, seeking over 1mn t of the product across regular tenders. Re-emerging interest from Latin America, and with China still out of the market, has allowed suppliers to raise MAP prices, while US DAP/MAP barge prices are firming again ahead of spring applications. On potash, MOP prices have been on the up this year, also driven by tight supply. Belarus' Belaruskali began major works at its fourth mine in January, which will reduce exports of white MOP by around 1mn t in the first half of 2025. In February, Uralkali announced that it will undertake maintenance in the second quarter that will cut its MOP output by around 300,000 t/yr, further cementing the stronger market sentiment. It also said it will push more product — at least 400,000t of MOP — to the domestic market in 2025. Canpotex also confirmed that it is fully committed for the first half of this year, while uncertainty over tariffs on US imports of Canadian imports also drove up sentiment. MOP prices have been particularly low compared with other key nutrients, specifically phosphate and nitrogen products. And expectations that MOP prices are likely to rise further have encouraged buyers to step into the market earlier and for larger amounts than normal as affordability remains healthy. Urea prices have fallen steadily in March, after hitting 16-month highs in mid-February. The combination of a delayed tender issuance from India, with expectations initially appearing in early February, and the restart of Iranian urea production this month — after outages since December — have weighed on sentiment following a price rise since early December. The lack of a tender in India has enabled US importers to build the line-up for the spring season, releasing pressure on buyers for March-loading cargoes. And a lack of spot import interest in urea from Australia, which appeared earlier than usual in the first quarter of last year, has yet to tighten the balance significantly east of Suez. On the other hand, crop prices for corn, wheat, rice and soybeans have fallen sharply in March, with the crop index — which includes global prices adjusted by output volumes — dropping to the lowest since August 2020 partly on uncertainty over trade dynamics following the imposition of trade tariffs. There is a risk that declining grain prices will weigh on demand for crop inputs. By Lili Minton, Tom Hampson, Julia Campbell and Harry Minihan Global fertilizer affordability Index Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Vancouver Jan-Feb sulphur exports rise by 17pc
Vancouver Jan-Feb sulphur exports rise by 17pc
London, 24 March (Argus) — Solid sulphur exports via the port of Vancouver rose by 17pc in the first two months of 2025, port data show. The exported volume from Vancouver reached 621,000t in the first two months of this year, with China the top recipient at 278,000t, followed by Australia at 108,000t. Indonesia received 59,000t. Vancouver port exporting more Exports are expected to rise in 2025, as prices are supportive to encourage deblocking, and geopolitical factors might push suppliers to diversify markets. Exports last year rose by 7pc to 3.3mn t, supported by additional deblocking and prilling initiatives. Additionally, about 900,000t of liquid sulphur was transported by rail from Canada to the US market, according to the US Geological Survey, and with the threat of 25pc tariffs to be introduced from early April onwards for US exports, suppliers are expected to look for alternative markets for some product, accessible via Vancouver. But this is expected to be gradual owing to relatively inflexible logistics chains and supply contracts in place. By Maria Mosquera Vancouver exports Jan-Feb 2025 t Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
TFI applauds addition of potash as US critical mineral
TFI applauds addition of potash as US critical mineral
Houston, 21 March (Argus) — US fertilizer industry group The Fertilizer Institute (TFI) applauded President Donald Trump's decision to include potash in the administration's list of American critical minerals and confirmed to its members today it is looking to have phosphate added to the list as well. Under the executive order issued Thursday, which aims to increase US production of critical minerals, the National Energy Dominance Council will receive a list of mineral production projects. Within 10 days of the order being issued, the NEDC will be expected to identify priority projects to be given the necessary permitting or approval to begin advancement. "President Trump's [executive order] will help ensure a stable and abundant supply of fertilizers. which are critical to maintaining the global competitiveness of US farmers, strengthening rural economics, and keeping food prices in check," TFI said. The Defense Production Act and federal financing tools will be used to provide supportive funding for new mining projects, and a dedicated critical minerals fund is expected to be created as well. The lions share of the US' potash supply is imported, with 98pc annually coming from other countries and 85pc of that from Canada, according to TFI data. The US in comparison is one of the top five phosphate rock producing countries in the world, where roughly 20mn short tons were produced in 2024. Most phosphate rock production in the US is located in Florida and most domestic potash production is located in New Mexico. However, in January the US Department of Energy said it would conditionally back more than $1bn in loans to Michigan Potash to finance construction of the first domestically built production facility in 60 years. Under the newly issued executive order, the Michigan Potash project could be guaranteed more definitive funding and government attention. Michigan's potash reserve is ideally located within the US' fertilizer demand center, and the project in its first phase will produce about 800,000 metric tons of potash annually, Michigan Potash chief development officer Cory Christofferson said today. "In subsequent expansion phases, we can produce 4mn t of potash or more annually." By Taylor Zavala Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Upper Mississippi River reopens for transit
Upper Mississippi River reopens for transit
Houston, 20 March (Argus) — The first towboat arrived at St Paul, Minnesota, today, marking the start of the 2025 navigation season on the upper Mississippi River, according to the US Army Corps of Engineers (Corps). The Neil N. Diehl passed through Lock 2 at Hastings, Minnesota, with nine barges, crossing into St Paul on 19 March. Tows reaching St Paul signify the unofficial start of the navigation season, as St Paul is the last port to open on the Mississippi River after winter ice thaws each year. This is considered an average start time for the navigation season, which typically opens the third week of March. The first tow to reach St Paul in 2024 arrived on 17 March. The Corps released the final Lake Pepin ice measurements of 17in on 12 March and was unable to take new measurements this week since the ice had melted significantly. Lake Pepin measurements help determine when the ice will be thin enough for barges to transit up river. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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