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
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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:
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:
This is a widely used nitrogen fertilizer that is highly soluble in water and easy to apply to soil.
This is a highly concentrated nitrogen fertilizer that is commonly used in commercial agriculture.
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.
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.
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:
This is a widely used phosphorus fertilizer that is highly water-soluble and easy to apply to soil.
This is a common phosphorus fertilizer that is used to supplement the nutrient needs of crops.
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.
Compost that is high in phosphorus can be used as a natural source of this essential nutrient for plants.
Manures from animals that are fed a phosphorus-rich diet, such as poultry manure, can be a good source of phosphorus for plants.
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.
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 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 is produced by animals and is high in nutrients. It is often used as a fertilizer for crops and gardens.
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 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 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 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.
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 is a synthetic fertilizer that is high in nitrogen. It is often used to promote leafy green growth in plants.
Ammonium nitrate is a synthetic fertilizer that is high in nitrogen. It is often used in agriculture to promote plant growth.
Monopotassium phosphate is a synthetic fertilizer that is high in phosphorus. It is often used to promote flowering and fruiting in plants.
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 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.
Further information on Fertilizers
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