Fertilizer Prices Continued to Fall in March

“All average retail fertilizer prices were down from last month in the fourth full week of March 2023, according to sellers surveyed by DTN. However, after weeks of prices for several fertilizers being considerably lower, only one fertilizer - anhydrous - was substantially less expensive.

“Once again, all eight of the major fertilizer prices are lower compared to last month. DTN designates a significant move as anything 5% or more.

“Leading the way lower was anhydrous. The nitrogen fertilizer was 5% lower compared to last month and had an average price of $1,026 per ton.”

The DTN article noted that, “The remaining seven fertilizers were all just slightly lower compared to last month. DAP had an average price of $818 per ton, MAP $810/ton, potash $644/ton, urea $626/ton, 10-34-0 $741/ton, UAN28 $428/ton and UAN32 $513/ton.”

Quinn added that, “All fertilizers are now double digits lower compared to one year ago. 10-34-0 is 17% less expensive, DAP is 21% lower, MAP is 23% less expensive, potash is 26% lower, UAN32 is 28% less expensive, both anhydrous and UAN28 are 33% lower and urea is 39% less expensive compared to a year prior.”

And in its April Market Monitor report, the Agricultural Market Information System (AMIS) indicated that, “Fertilizer prices continued to fall in March due to weakening demand and further easing of supply constraints, especially for nitrogenous fertilizers where price declines were particularly pronounced.



Source: illinois.edu

Photo Credit: Adobe Stock-CactuSoup