Fertilizer prices to go up in short, medium term
Fitch Ratings has increased its short- and medium-term global fertilizer price assumptions following supply disruptions
“Our longer-term price assumptions are unchanged,” said Fitch Ratings in a report on Thursday. The 2022–2024 ammonia price assumption increases are driven by Fitch’s raised assumption for European natural gas prices. Most EU ammonia producers curtailed manufacturing in March due to surging gas prices.
Weeks ago, the Minister for Industries and Production told that 100,000 tones of urea will arrive from China as the government had imported it to facilitate farmers.