Global fertilizer prices paint a vivid picture of market dynamism. Black Sea Urea Price at US $330/ton marks a 6% decrease, while US DAP Spot Price (Gulf) surges by 5.77% to US $617.5/ton. Morocco Rock Phosphate holds steady at US $152.5/ton. Meanwhile, Henry Hub natural gas price impresses at US $1.54/MMBtu, reflecting a notable 7.78% decrease.
Black Sea Urea Price
Black Sea Urea Price for March 2024 has been reported at US $330 per ton. This marks a notable decrease of 6% compared to the February 2024 price of US $351.25 per ton. However, compared to March 2023, where prices stood at US $313.5 per ton, the current price reflects a modest 5.26% increase.
The 6% decrease in Urea prices from February to March 2024 suggests shifts in market dynamics or changes in production and distribution factors. Despite this decrease, the modest 5.26% increase compared to the previous year highlights the overall resilience and growth potential of the fertilizer market.
The March 2024 Black Sea Urea Price showcases the dynamic nature of the fertilizer market, with notable fluctuations compared to both the previous month and year.
US DAP Spot Price (Gulf)
US DAP Spot Price (Gulf) for March 2024 has been reported at US $617.5 per ton. This represents a notable increase of 5.77% compared to the February 2024 price of US $583.81 per ton. Furthermore, compared to March 2023, where prices stood at US $606 per ton, the current price reflects a modest 1.9% uptick.
The March 2024 US DAP Spot Price (Gulf) reflects the dynamic nature of the fertilizer market, with notable fluctuations compared to the previous month and year.
The 5.77% increase in DAP spot prices from February to March 2024 suggests heightened demand or supply constraints in the market, driving prices upward. Despite the modest 1.9% increase compared to the previous year, the sustained upward trajectory underscores the resilience of the fertilizer market.
Morocco Rock Phosphate Prices
The Morocco Rock Phosphate Price for March 2024 has been revealed at US $152.5 per ton. This price remains consistent with the February 2024 price, maintaining stability in the market. Notably, compared to March 2023, where prices stood at US $345 per ton, the current price reflects a substantial 56% decrease.
The March 2024 Morocco Rock Phosphate Price underscores the evolving dynamics of the global fertilizer market. Despite remaining unchanged from the previous month, the significant year-on-year reduction highlights the fluctuating nature of commodity prices and the impact of various factors on market trends.
The consistency in prices from November 2023 to March 2024 signals a level of stability in the Morocco Rock Phosphate market.
Henry Hub Natural Gas Spot Price
In a significant revelation, the Henry Hub natural gas price for March 2024 has been unveiled at an impressive US $1.54 per million British thermal units (MMBtu). This marks a noteworthy 7.78% decrease from February 2024, where prices stood at US $1.67 per MMBtu. Furthermore, compared to the same period last year (March 2023), the current price represents a remarkable 26.67% reduction from US $2.10 per MMBtu.
The March 2024 Henry Hub natural gas price unveils a compelling narrative of market dynamics. With a 7.78% decrease from February and a striking 26.67% reduction compared to the previous year, these figures underscore the volatility and evolution of the natural gas market.
