Fertilizer price February 2024 and outlook (see chart below)

  • Global:US$1.46/ID, 0.7% up
  • Diammonium phosphate:US$1.52/ID, 1.3% up
  • Phosphate rock:US$1.54/ID, unchanged
  • Potassium chloride:US$1.4/ID, 1.4% up
  • Potassium:US$2.23/ID, 0.9% up
  • Triple superphosphate:US$1.28/ID, 0.8% up
  • Urea:US$1.27/ID, -0.8% down
The chart below summarizes Fertilizer index price trend per region, as well as the outlook. It takes a moment to load.

Business Analytiq assumes no responsibility or liability for any errors or omissions in the content of this site. The information contained in this site is provided on an “as is” basis with no guarantees of completeness, accuracy, usefulness, or timeliness.

Fertilizer price index

This post is a summary of the Fertilizer price index developments since 2015 as per the IMF, the Worldbank and other fertilizer indexes. The developments are expressed as an index and not in absolute terms. Therefore the Fertilizer price index means that the values provided are relative to Jan 1 2019 which is defined as 1.00.

Further sources of information on the Fertilizer price chart

 

What types of Fertilizers are there

There are many different types of fertilizers that are formulated to provide plants with the nutrients they need to grow and thrive. Some common types of fertilizers include:

Nitrogen fertilizers

These fertilizers are high in nitrogen and are used to promote leafy growth and dark green foliage in plants. Nitrogen fertilizers are often used on lawns, gardens, and ornamental plants.

Some examples of nitrogen fertilizers include:

Urea

This is a widely used nitrogen fertilizer that is highly soluble in water and easy to apply to soil.

Ammonium nitrate

This is a highly concentrated nitrogen fertilizer that is commonly used in commercial agriculture.

Ammonium sulfate

This fertilizer is high in both nitrogen and sulfur and is commonly used to supplement the nutrient needs of crops.

Calcium ammonium nitrate

This fertilizer is high in nitrogen and is commonly used in the production of other fertilizers and chemicals.

Anhydrous ammonia

This is a highly concentrated form of nitrogen fertilizer that is injected directly into the soil.

Nitrogen-rich organic fertilizers

These fertilizers are made from natural materials such as animal manures and compost and are a good source of slow-release nitrogen for plants.

 

Phosphorus fertilizers

These fertilizers are high in phosphorus and are used to promote strong root growth, flowering, and fruiting in plants. Phosphorus fertilizers are often used on fruit trees, vegetables, and flowering plants.

Some examples of phosphorus fertilizers include:

Monoammonium phosphate

This is a widely used phosphorus fertilizer that is highly water-soluble and easy to apply to soil.

Diammonium phosphate

This is a common phosphorus fertilizer that is used to supplement the nutrient needs of crops.

Triple superphosphate

This is a concentrated phosphorus fertilizer that is commonly used in commercial agriculture.

Phosphorus-rich organic fertilizers

These fertilizers are made from natural materials such as bone meal and rock phosphate and are a good source of slow-release phosphorus for plants.

Phosphorus-based compost

Compost that is high in phosphorus can be used as a natural source of this essential nutrient for plants.

Phosphate-rich manures

Manures from animals that are fed a phosphorus-rich diet, such as poultry manure, can be a good source of phosphorus for plants.

 

Potassium fertilizers

These fertilizers are high in potassium and are used to promote healthy growth and disease resistance in plants. Potassium fertilizers are often used on vegetables, fruit trees, and ornamental plants.

Some examples of potassium fertilizers include:

  • Potassium chloride (also known as muriate of potash)
  • Potassium sulfate (also known as sulfate of potash)
  • Potassium nitrate (also known as nitrate of potash)

These fertilizers are often used to supplement the potassium levels in soil, which is an essential nutrient for plant growth. Potassium helps plants absorb water and nutrients, and it also helps with the synthesis of proteins and the regulation of enzymes. It is especially important for fruiting and flowering plants, as it helps improve the quality and size of fruit and flowers.

 

Organic fertilizers

These fertilizers are made from natural materials such as animal manures, bone meal, and compost. Organic fertilizers release nutrients slowly and are generally considered more environmentally friendly than synthetic fertilizers.

Organic fertilizers are derived from plant or animal matter, and they are used to provide essential nutrients to plants. Some examples of organic fertilizers include:

Compost

Compost is made from decomposing organic matter, such as food scraps and yard waste. It is a rich source of nutrients and helps improve the structure of soil.

Manure

Manure is produced by animals and is high in nutrients. It is often used as a fertilizer for crops and gardens.

Blood meal

Blood meal is made from dried, ground blood and is high in nitrogen. It is often used as a fertilizer for leafy green vegetables and other plants that benefit from a nitrogen boost.

Bone meal

Bone meal is made from ground animal bones and is high in phosphorus. It is often used as a fertilizer for flowering plants and vegetables that produce fruit.

Rock phosphate

Rock phosphate is a naturally occurring mineral that is high in phosphorus. It is often used as a fertilizer for soil that is low in phosphorus.

Kelp meal

Kelp meal is made from seaweed and is high in trace minerals and micronutrients. It is often used as a fertilizer to improve the overall health of plants.

 

Synthetic fertilizers

These fertilizers are made from chemicals and are designed to provide a quick boost of nutrients to plants. Synthetic fertilizers can be highly concentrated and are often used in commercial agriculture.

Synthetic fertilizers are man-made and are formulated to provide specific nutrients to plants. Some examples of synthetic fertilizers include:

Urea

Urea is a synthetic fertilizer that is high in nitrogen. It is often used to promote leafy green growth in plants.

Ammonium nitrate

Ammonium nitrate is a synthetic fertilizer that is high in nitrogen. It is often used in agriculture to promote plant growth.

Monopotassium phosphate

Monopotassium phosphate is a synthetic fertilizer that is high in phosphorus. It is often used to promote flowering and fruiting in plants.

Potassium chloride

Potassium chloride is a synthetic fertilizer that is high in potassium. It is often used to improve the overall health and growth of plants.

Ammonium sulfate

Ammonium sulfate is a synthetic fertilizer that is high in nitrogen and sulfur. It is often used in agriculture to promote plant growth and improve the quality of the soil.

Synthetic fertilizers are often used in agriculture to increase crop yields, but they can also be used in home gardens to help plants grow and thrive. It’s important to use synthetic fertilizers responsibly, as overuse can lead to nutrient imbalances in the soil and can have negative impacts on the environment.

 

How big is the global Fertilizer industry

The global fertilizer industry is a large and important industry that plays a vital role in the production of food and other crops around the world. According to data from the International Fertilizer Association, the global fertilizer market is worth billions of dollars and is expected to continue growing in the coming years. In 2020, the global fertilizer industry was valued at around $195 billion and is expected to reach $227 billion by 2024, with a compound annual growth rate of 3.2%.

The demand for fertilizers is driven by the increasing global population and the need to produce more food to feed a growing number of people. Fertilizers are used in a variety of industries, including agriculture, horticulture, forestry, and turf management, and they are essential for the growth and development of a wide range of crops. The global fertilizer industry includes producers, distributors, and retailers of fertilizers, as well as companies that provide related services and products.

According to: https://oec.world/en/profile/hs/mixed-mineral-or-chemical-fertilizers

Mixed Mineral or Chemical Fertilizers are the world’s 162nd most traded product.

In 2020, the top exporters of Mixed Mineral or Chemical Fertilizers were China ($3.62B), Morocco ($3.42B), Russia ($2.93B), United States ($2.07B), and Saudi Arabia ($1.26B).

In 2020, the top importers of Mixed Mineral or Chemical Fertilizers were Brazil ($2.46B), India ($2.46B), Canada ($892M), United States ($871M), and China ($701M).

 

Further information on Fertilizers

 

Data source: IMF

This data has been partly provided by the IMF and the World Bank. The only change is that it has been indexed for Jan 2019 (so Jan 2019 is set as the index 1.00). The data is provided subject to the terms and conditions as defined by the IMF

Business Analytiq

BE THE FIRST TO SEE RISK AND OPPORTUNITY!

BusinessAnalytiq provides unlimited market trend data and an online tools to track market developments, key benchmarks & leading indicators.

BusinessAnalytiq leads to price visibility, better negotiations, easier budgeting and forecasting, lower raw material prices, and improved better internal and external communication. BusinessAnalytiq will decrease risk and higher profit.

businessanalytiq

Where does the data come from?

  • The source of the data are exclusively public non-confidential sources. We have no access to primary data
  • This the index trend of the price trend of the "product category" in general, and not a single specification of the product in particular
  • The data is a combination of contract and spot pricing
  • Our algorithms are set up to eliminate significant product mix impact on the reported price
  • We combine public publications, import/export records, trading prices, company announcements, magazine articles, tweets, and other sources of ad-hoc public information.
  • The chart shows the our best approximation of the market trend based on our algorithm interpretation of the signals
  • For most indexes we have multiple sources and we focus on using statistically-correlated sources
  • As a function of our automation, it is likely that recent trends will be adjusted as we discover more information. So, for example, the price trend for February 2024 will be first calculated in February 2024 and adjusted in March, April and May 2024.
  • We will update the data trend as more information becomes available, and this means that recent trends will always be adjusted as we get more data available
  • The algorithm will regularly revise our understanding of market trends, and indicated market trends may change
  • The data is presented in US$. The UOM of measure is shown in the Index list table
  • Our automated software and we do our best to create an accurate representation of the trend

 

Where does the data NOT come from?

  • We do not purchase data from any other source and republish it.
  • We will not purchase data from any other source and republish it
  • We do not extrapolate trends, even for the forecast. We look for other market signals and leading indicators

 

What data should our company use?

  • If you are making decisions driving significant share of profit, we always recommend that you buy data from the companies who invest in direct primary market access such as ICIS, amongst many others
  • Our data, at best, represents an estimate of the market trend based on public information
  • We have no direct access to the market, and we do not interview suppliers and customers
  • Our automated analysis tools in the online software are set up to combine our data with other sources of data
  • We do not recommend that you use our data for direct price mechanisms, as we may change and improve the data trends over time, including historical data

 

What does the quality indication in the main menu mean?

  • Quality level A: Data is from a reliable and confirmed source
  • Quality level B: Data is from multiple credible sources and there are no major statistical inconsistencies between them
  • Quality level C: Data is from multiple credible sources and there are some statistical inconsistencies between them
  • Quality level D: Data is from a single credible source, but we cannot verify the data
  • Quality level E: Data is either:
    • From a single source, which we consider reliable, but we cannot verify the data.
    • From 2 or more sources which have some periods of contradicting trends.
  • Quality level F: Data is from a single source which we consider indicatively correct, but the data is anecdotal and we cannot verify the data.

 

What are the disclaimers?

  • We assume no responsibility or liability for any errors or omissions in the content of this site.
  • The information is provided on an “as is” basis with no guarantee of completeness, accuracy, usefulness, fitness for purpose or timeliness.
  • By their nature, outlooks are always uncertain

 

How often do we update the data?

  • We aim to update the data series on the 9th and 24th of each month (but we do not always make it for each chart)
  • The data for the current month and recent history are fine-tuned over time.

 

What are we doing to improve the data?

  • We are continually improving our data collection and processing methods
  • Pricing data will be updated from time to time as we improve the accuracy
  • We are reviewing all data sources in the first half of 2024.
    • There will be continuous fine-tuning of the trend and forecast algorithm as part of that.
    • The key focus in 2024 is to add many additional indexes

 

How can i give feedback on the data or request for new indexes

  • Feel free to contact us if you have a specific request. You can reach us via the Contact us page