For the Quarter Ending December 2024
North America
In Q4 2024, the North American fertilizer and agricultural chemical market exhibited mixed trends, reflecting supply-demand dynamics and seasonal factors. Sodium Nitrate prices fluctuated, with an initial surge in October due to strong pharmaceutical demand and supply shortages, followed by a decline in December as Chinese exporters offered competitive pricing. Ammonium Nitrate prices remained stable in October and November but saw a marginal rise in December due to supply tightness and steady industrial demand from mining and explosives sectors.
Urea Ammonium Nitrate (UAN) prices surged in October due to logistical disruptions and supply shortages but stabilized later as agricultural demand waned. Ammonium Chloride mirrored Ammonium Nitrate trends, with a slight December price increase driven by industrial demand. Ammonium Sulphate prices dropped initially due to oversupply and weak agricultural demand but rebounded slightly in December. Urea prices showed stability after an October surge, supported by industrial demand. Calcium Nitrate prices rose in October due to seasonal inventory build-up but declined in December due to logistical disruptions and subdued fertilizer demand.
Diammonium Phosphate (DAP) prices fell impacted by weak autumn harvest demand and supply chain constraints. Overall, the market faced challenges from logistical disruptions, fluctuating feedstock costs, and cautious agricultural purchasing, with industrial demand providing some stability.
APAC
In Q4 2024, the Asia-Pacific fertilizer market showed mixed trends influenced by supply chain disruptions, weather impacts, and seasonal agricultural demand. Sodium Nitrate prices were stable initially but declined by December due to oversupply and destocking. Ammonium Nitrate and Ammonium Chloride prices declined, pressured by ample inventories and weak export demand, except in India, where restocking for the Rabi season caused slight increases. Urea Ammonium Nitrate (UAN) prices in India dropped in December due to balanced inventories meeting planting season needs. Ammonium Sulphate prices surged in China and South Korea due to strong Indian demand and weather-related production disruptions. Urea prices were volatile, rising early on strong demand but stabilizing by year-end. Calcium Nitrate prices were initially strong due to agricultural demand but fell in December on weaker fertilizer sector activity. Diammonium Phosphate (DAP) prices remained stable throughout Q4, showing an increase compared to Q3 levels. These trends highlight the interplay of supply chain challenges, weather effects, and agricultural cycles on the fertilizer market.
Europe
In Q4 2024, the European fertilizer and agricultural chemical market exhibited mixed trends, shaped by supply-demand dynamics, logistical challenges, and seasonal factors. Sodium Nitrate prices rose steadily due to limited supply, rising production costs, and strong demand from downstream sectors. Ammonium Nitrate prices declined due to oversupply and weak agricultural demand, despite rising feedstock costs. Urea Ammonium Nitrate (UAN) prices fluctuated, with an October surge driven by supply disruptions and seasonal stockpiling, followed by stabilization and a December rebound due to persistent supply constraints. Ammonium Chloride and Ammonium Sulphate prices dropped due to oversupply and weak agricultural demand, though the UK saw a December price surge due to supply chain disruptions. Urea market witnessed a steady price surge driven by supply constraints, high natural gas costs, and logistical challenges, despite subdued agricultural demand. Persistent supply-side pressures and rising production costs outweighed weak demand, fueling competition and pushing prices upward. Calcium Nitrate prices rose in October due to strong demand for the planting season but declined in December due to logistical disruptions and subdued fertilizer demand. Diammonium Phosphate (DAP) prices saw a slight increase, supported by stable production and moderate agricultural demand despite adverse weather and logistical challenges. Overall, the market faced headwinds from high input costs, logistical disruptions, and cautious agricultural purchasing, with industrial demand providing some stability.
