There is a significant reduction in global fertilizer prices, it could be due to oversupply in the market, a decrease in demand for fertilizers, or a change in government policies that affect the fertilizer industry. A reduction in prices could benefit farmers by making fertilizers more affordable and accessible, which could ultimately increase crop yields and improve food security.
Black Sea Urea Monthly Spot Price
The price of Black Sea Urea in February 2023 was recorded at US $357.5 per ton, marking a significant decrease of 19.44% from the previous month’s price of US $443.75 per ton. Furthermore, the current price is 51.96% lower than the same period last year, which was US $744.17 per ton in February 2022.
US DAP Monthly Spot Price (Gulf)
Moving on to US DAP Monthly Spot Price (Gulf), the price in February 2023 is US $612.5 per ton, which is 2.93% lower than January 2023’s price of US $631 per ton. Compared to the same month in the previous year, the price has dropped by 18%, from US $747.13 per ton in February 2022.
Morocco Rock Phosphate Monthly Spot Price
The Morocco Rock Phosphate Monthly Spot Price for February 2023 is US $322.5 per ton, which is 7.5% more than the price in January 2023. Moreover, the current price is 86% higher than the same period last year, which was US $172.5 per ton in February 2022.
Henry Hub Natural Gas Monthly Spot Price
Lastly, the Henry Hub Natural Gas Monthly Spot Price for February 2023 is US $2.5 per MMBTu. This represents a decline of 5.66% from January 2023’s price of US $2.65 per MMBTu, and a decrease of 43.95% from the same period last year, which was US $4.46 per MMBTu in February 2022.
