In June 2024, the spot price for US Gulf DAP fertilizer rose to $543 per ton, reflecting a 4% increase from May 2024, when prices were at $522 per ton. This latest figure also marks a notable 19.5% uptick compared to June 2023, when the price stood at $454.5 per ton. This upward trend indicates evolving market conditions influenced by factors such as demand shifts, supply dynamics, and global economic trends impacting the fertilizer industry.
This price reflects current market conditions and plays a crucial role in agricultural markets, influencing decisions related to fertilizer procurement, crop planning, and economic forecasting in the global demand for coming season.
