India’s Department of Fertilizers, under the Ministry of Fertilizers and Chemicals, provided valuable insights into the prevailing trends shaping the global fertilizer market.
March 2024 emerges as a pivotal month in the fertilizer industry, witnessing significant shifts across key commodities.
Notably, the price of Urea (FOB) has decreased by about 10.53%, from USD 361/MT in March 2023 to USD 323/MT in March 2024.
Similarly, the price of DAP (CFR) has decreased by approximately 4.27%, declining from USD 609/MT in March 2023 to USD 583/MT in March 2024.
Additionally, MOP (CFR) has experienced a substantial decrease of about 45.93%, dropping from USD 590/MT in March 2023 to USD 319/MT in March 2024.
Moreover, the price of Phosphoric Acid (CFR) has decreased by around 7.81%, declining from USD 1050/MT in March 2023 to USD 968/MT in March 2024.
Furthermore, the price of Rock Phosphate (CFR) has decreased by approximately 12.12%, falling from USD 231/MT in March 2023 to USD 203/MT in March 2024.
Additionally, Ammonia (CFR) has witnessed a notable decrease of about 20.39%, decreasing from USD 559/MT in March 2023 to USD 445/MT in March 2024.
Lastly, the price of Sulphur (CFR) has experienced a significant drop of about 29.80%, declining from USD 151/MT in March 2023 to USD 106/MT in March 2024.
