India’s Department of Fertilizers, a division under the Ministry of Fertilizers and Chemicals, provided valuable insights into the prevailing trends shaping the global fertilizer market.
The strategic maneuvers of the Ministry of Fertilizers and Chemicals have compelled the global market to maintain price parity or even witness downward trends, even amidst peak seasons.
February 2024 unfolds as a pivotal month in the fertilizer industry, witnessing sweeping transformations across key commodities: Urea (FOB) plunges by 32.00% to USD 323/MT, DAP (CFR) falls by 9.16% to USD 595/MT, and MOP (CFR) tumbles a staggering 46.78% to USD 314/MT, marking profound shifts in market dynamics. Simultaneously, Phosphoric Acid (CFR) sees a 7.52% decline to USD 971/MT, Rock Phosphate (CFR) slides 9.09% to USD 220/MT, and Ammonia (CFR) experiences a remarkable 43.67% drop to USD 445/MT, underlining the seismic changes reshaping the global fertilizer landscape. Additionally, Sulphur (CFR) records a notable 34.69% decrease to USD 96/MT from February 2023 to February 2024, further emphasizing the magnitude of shifts reverberating throughout the industry.
February 2024 witnesses a dramatic shift in fertilizer prices, with Urea (FOB) plummeting by 32.00% to USD 323/MT, DAP (CFR) dropping 9.16% to USD 595/MT, and MOP (CFR) experiencing a staggering 46.78% decrease to USD 314/MT, signaling significant market transformations.
February 2024 also marks a significant downturn in key fertilizer prices, with Phosphoric Acid (CFR) dipping 7.52% to USD 971/MT, Rock Phosphate (CFR) sliding 9.09% to USD 220/MT, and Ammonia (CFR) experiencing a remarkable 43.67% decrease to USD 445/MT, illustrating notable shifts in the global market landscape.
February 2024 also sees a striking decline in Sulphur (CFR) prices, dropping by approximately 34.69% to USD 96/MT from USD 147/MT in February 2023, signaling significant shifts in the global fertilizer market.
