India’s Department of Fertilizers, a division under the Ministry of Fertilizers and Chemicals, has provided valuable insights into the current trends influencing the global fertilizer market.
The revised price trends for various fertilizers from April 2023 to April 2024:
- Urea (FOB): Increased by approximately 3.31%, rising from USD 332/MT in April 2023 to USD 343/MT in April 2024.
- DAP (CFR): Decreased by about 2.69%, dropping from USD 557/MT in April 2023 to USD 542/MT in April 2024.
- MOP (CFR): Decreased significantly by around 24.41%, falling from USD 422/MT in April 2023 to USD 319/MT in April 2024.
- Phosphoric Acid (CFR): Decreased by approximately 8.29%, declining from USD 1050/MT in April 2023 to USD 963/MT in April 2024.
- Rock Phosphate (CFR): Decreased by about 13.02%, decreasing from USD 215/MT in April 2023 to USD 187/MT in April 2024.
- Ammonia (CFR): Increased by approximately 12.83%, rising from USD 421/MT in April 2023 to USD 475/MT in April 2024.
- The price of Sulphur (CFR) declined by approximately 9.02%, dropping from USD 122/MT in April 2023 to USD 111/MT in April 2024.
These changes reflect the evolving dynamics in the global fertilizer market as observed and reported by India’s Department of Fertilizers under the Ministry of Fertilizers and Chemicals.