Fertilizer price today April 13, 2023: Fertilizer price drops to lowest level in the past 2 years

fertilizer prices today, April 13, 2023: Fertilizer prices have dropped to their lowest level in the past 2 years. The prices of some fertilizer products are currently only half of those of the same period last year and are at their lowest level in the past 2 years. This makes millions of farmers extremely excited because investment costs have decreased sharply. The Vietnam Fertilizer Association assessed that in early 2022, fertilizer prices increased proportionally to world oil and gas prices. However, since the fourth quarter of 2022, although oil and gas prices have not increased and the world is facing a recession in many important markets, fertilizer prices have continuously decreased sharply, especially urea. In addition, in early 2022, domestic and world fertilizer prices increased too high, exceeding the tolerance of farmers, negatively affecting consumption. This caused inventories to increase rapidly, not to mention the cost of natural gas, an important raw material for fertilizer production, and farmers’ demand, leading to a sharp decrease in fertilizer prices. On the other hand, China has begun to reopen its market and lifted export restrictions on 29 types of fertilizers, and the supply of fertilizers on the world market is no longer in a state of local scarcity as before. #fertilizer_price #farmers #western region #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials #news #agriculture

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