Fertilizers Price Skyrocket as Mosaic Sees Upward Price Momentum to Continue Till 2022

    The world’s largest crop nutrient supplier, Nutrient Ltd, raised its yearly projections with robust crop prices supporting the increase in fertilizer spending. Potash, one of the key fertilizers rich in potassium and a key nutrient for the soil, saw its prices continue to increase in all the key markets. As per the Nutrient statement on Monday, the record demand and increasing growing margins firmed up the fertilizer prices. 

    The outlook was on the back of a statement issued by Mosaic Co, the largest phosphate producer, which expects the price momentum to march upwards. 90% of fourth-quarter sales are already priced and committed to the market even as customers request commitments as far as the second quarter of 2022.


    Mosaic Ltd earlier had to adjust its third-quarter earnings that fell short of the average estimate set by market analysts. The lower sales volume in phosphate and potash resulted in shares prices going down in after-market trades. 

    Prices of fertilizers skyrocketed on account of increasing natural gas costs which resulted in many European plants curtailing or halting their production. The spot prices for urea, a type of nitrogen fertilizer, and potash have more than doubled in 2021, as per Green Markets, a company belonging to Bloomberg. 

    The surging prices have stoked fears that farmers may hold back on these fertilizers or shift more acres of land to other crops requiring fewer nutrients. Another worry is that a drop in yields could result in higher crop prices, worsening food inflation. 

    The North American fertilizer price index of the Green Market was $1017.87 per short ton, up by 0.4% on Friday. This was just short of the record high hit in October.

    RELATED ARTICLES

    5starsstocks.com Materials

    5starsstocks.com Materials: Expert-curated Stock Data

    In the world of the stock market, which is all about smart investments, knowledge is...
    strategy for salaried individuals

    Why SIP is the best investment strategy for salaried individuals

    As a salaried individual, managing finances comes with several challenges. Fixed monthly income leaves little...
    A Full Range of Financial Services for Ukrainians in Toronto

    BCU Financial serving the Ukrainian community in Toronto, has been around for over 70 years

    BCU Financial serving the Ukrainian community in Toronto, has been around for over 70 years....
    Make1m.com Millionaire Life

    Make1m.com Millionaire Life: Smartest Ways to Get Rich

    In a technology in which digital entrepreneurship is booming, the dream of turning into a...
    Wheon.com finance tips

    Wheon.com Finance Tips: Expert Advice You Can Trust

    Wheon.com finance tips are supposed to be your go-to guide, but honestly, where do you...
    Seasonal Saving How to Time Your Purchases for Maximum Discounts

    Seasonal Saving: How to Time Your Purchases for Maximum Discounts

    Smart shoppers know that timing is everything when it comes to saving money on purchases....

    MORE ARTICLES

    doTERRA

    doTERRA Leads Global Aromatherapy Market With 13.2% Share in 2024

    doTERRA leads the global aromatherapy market with a 13.2% share as the $8.4B industry grows...
    wellhealthorganic yurovskiy kirill

    WellHealthOrganic Yurovskiy Kirill: Your AI Health Guide is Here!

    WellHealthOrganic yurovskiy kirill is leading the charge in revolutionizing personalized healthcare. Are you tired of...
    Wheon Gaming

    Wheon Gaming: A New Frontier in Online Entertainment

    In this constantly changing digital era, Wheon Gaming has become a force to be reckoned...
    Wellhealthorganic.com protein

    Everything About Wellhealthorganic.com Protein & Its Benefits

    In today’s health-conscious international, protein has emerged as the cornerstone of fitness, well-being, and ultimate...
    5starsstocks.com Materials

    5starsstocks.com Materials: Expert-curated Stock Data

    In the world of the stock market, which is all about smart investments, knowledge is...