Global water-soluble fertilizer market picked up pace

For a long time, the worldwide need for water-soluble fertilizers has been increasing, supporting a steep rise in demand and a price trend for numerous water-soluble fertilizers, including Mono Ammonium Phosphate, Urea Phosphate, and Potassium Nitrate. According to ChemAnalyst data, Mono Ammonium Phosphate (MAP) prices have been growing in the United States, China, India, and Europe since January, because of limited availability and high demand fundamentals from the downstream agriculture industry. On March 24, Jiyuan Wanyang fertilizer Co., Ltd. China offered 55% powdered Mono Ammonium Phosphate at USD 549/MT, and the price was reported to be temporarily stable.

The European government has been attempting to increase imports of all main fertilizers to protect farmers' profitability and prevent food inflation in the country. As a result, many safeguards have been implemented, including increased imports and increased agricultural subsidies. However, domestic manufacturers and dealers' inventories were depleted due to production cuts in China and expected increased demand for Rabi crops. Furthermore, spot prices and contract purchase prices have risen, with manufacturers quoting higher pricing for scheduled purchases as well. Meanwhile, customers are fighting black marketing and stock hoarding, causing artificial shortages, and forcing them to purchase cargo at a premium price.

According to ChemAnalyst, "the cost of Water-Soluble Fertilizer, which includes Mono Ammonium Potash (MAP), is unlikely to fall short, as numerous significant variables support the current fertilizer price trend in the worldwide market. Meanwhile, Russia has set a quota on nitrogen fertilizer exports, which will negatively impact Indian traders' stockpiles. Furthermore, due to domestic scarcity, China has restricted phosphate fertilizers, which has resulted in a further increase in the price of phosphate fertilizers such as diammonium phosphate (DAP). Finally, due to local shortages and stable to solid demand fundamentals, Water-Soluble Fertilizer prices are expected to continue buoyant for a while longer.