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    DTN Fertilizer Trends: Prices Resume Climb

    Fertilizer application. ©Debra L Ferguson Stock Photography

    After a week in which half of the average retail fertilizer prices were lower, prices for most fertilizers moved higher the first week of March 2022 compared to a month earlier, according to sellers surveyed by DTN.

    Seven of the eight major fertilizers were higher looking back a month, though none were up a significant amount. DTN designates a significant move as anything 5% or more.

    DAP had an average price of $879 per ton, MAP $937/ton, potash $815/ton, 10-34-0 $837/ton, anhydrous $1,487/ton, UAN28 $603 (all-time high price) and UAN32 $703/ton (all-time high price).

    One fertilizer was slightly lower in price compared to the prior month. Urea had an average price of $887/ton.

    On a price per pound of nitrogen basis, the average urea price was at $0.96/lb.N, anhydrous $0.91/lb.N, UAN28 $1.08/lb.N and UAN32 $1.10/lb.N.

    Brazil is looking for a new fertilizer supplier as the war in Ukraine threatens to cut off shipments of nutrients to the South American agriculture giant, Dow Jones reported.

    Brazil imports about 85% of its fertilizer needs and about a fifth of those imports come from Russia. Russia’s trade ministry has called for the suspension of fertilizer exports.

    Even before the conflict, there were numerous issues with global fertilizer supply. Higher natural gas prices, a lower supply from China and weather issues curtailing U.S. production all came together in 2021 to reduce supply, thus raising world fertilizer prices.

    The war in Ukraine has made this situation worse, according to industry analysts.

    Dow Jones reported that Brazilian Agriculture Minister Tereza Cristina Dias said she is planning to travel to Canada this month to hopefully secure more fertilizer supplies. Dias said Brazil has enough stocks to last until October, although some don’t agree with this statement.

    The Brazilian National Fertilizer Association has warned local fertilizer stocks will only last another three months. Sanctions and travel restrictions have hampered shipments to Brazil, the group said.

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    “We are experiencing firsthand what it means to depend on imported fertilizer,” Jefferson Souza, a Brazil-based fertilizer analyst at Agrinvest Commodities, told Dow Jones.

    Sluggish productivity has kept the country from developing a larger domestic fertilizer industry, he said.

    Most fertilizers continue to be considerably higher in price than one year earlier.

    MAP is now 39% more expensive, DAP is 44% higher, 10-34-0 is 50% more expensive, urea is 87% higher, potash is 96% more expensive, UAN32 is 131% higher, UAN28 137% is more expensive and anhydrous is 166% higher compared to last year.

    DTN surveys more than 300 retailers, gathering roughly 1,700 fertilizer price bids, to compile the DTN Fertilizer Index each week. In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here.

    The Mosaic Company said strong commodity prices will drive the fertilizer demand higher through at least 2022, Dow Jones reported. You can read it here.

    DRY
    Date Range DAP MAP POTASH UREA
    Mar 1-5 2021 609 673 416 474
    Mar 29-Apr 2 2021 618 697 429 502
    Apr 26-30 2021 629 703 433 513
    May 24-28 2021 652 709 443 523
    Jun 21-25 2021 670 720 469 541
    Jul 19-23 2021 695 750 543 553
    Aug 16-20 2021 695 755 564 556
    Sep 13-17 2021 702 776 598 572
    Oct 11-15 2021 798 860 710 719
    Nov 8-12 2021 821 906 762 832
    Dec 6-10 2021 840 919 778 887
    Jan 3-7 2022 863 931 807 913
    Jan 31-Feb 4 2022 877 933 813 905
    Feb 28-Mar 4 2022 879 937 815 887
    LIQUID
    Date Range 10-34-0 ANHYD UAN28 UAN32
    Mar 1-5 2021 560 560 254 304
    Mar 29-Apr 2 2021 599 685 340 377
    Apr 26-30 2021 613 710 350 391
    May 24-28 2021 619 719 361 407
    Jun 21-25 2021 625 724 366 420
    Jul 19-23 2021 632 736 365 419
    Aug 16-20 2021 631 743 369 420
    Sep 13-17 2021 632 762 381 428
    Oct 11-15 2021 654 873 442 488
    Nov 8-12 2021 719 1162 566 614
    Dec 6-10 2021 756 1372 577 661
    Jan 3-7 2022 795 1430 584 679
    Jan 31-Feb 4 2022 826 1487 600 699
    Feb 28-Mar 4 2022 837 1487 603 703

    Russ Quinn can be reached at russ.quinn@dtn.com

    Follow him on Twitter @RussQuinnDTN

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