Fertilizer prices have already eased from the peak levels recorded in 2022 but prices remain high due to disruptions and restrictions that make it more expensive, according to World Bank economists.
FERTILIZER prices have already eased from the peak levels recorded in 2022 but prices remain high due to disruptions and restrictions that make it more expensive, according to World Bank economists.
“Fertilizer prices have eased from their early 2022 peaks but they remain at historically elevated levels. The price easing partly reflects weak demand as farmers cut back fertilizer field applications due to affordability and availability issues,” the economists said. However, the economists believe the “milder winter” and higher imports to boost Europe’s energy reserves have already led to the easing of fertilizer prices. This, the economists said, could also allow shuttered nitrogen fertilizer production facilities to resume operations.
Based on the United States Geological Survey, potash is used primarily as an agricultural fertilizer.
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