Latest Fertilizer FLASH Update
- Global fertilizer prices have seen a massive increase in 2021 amid tight supplies
- Granular urea sold in Brazil as high as USD 415 CFR but now retracting to around USD 365 CFR
- Phosphoric acid Q1/21 contract in India settled at USD 998 CFR with OCP looking for another USD 40 PMT increase for Q2/21 settlement
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Main reason for this substantial increase of more than USD 200 PMT from the last conclusion is the relentless increase in sulfur and ammonia prices - both which OCP imports in large quantities
- India processed phosphate fertilizer producers are facing massive losses since domestic increase fertilizer prices not able to keep track of increased costs due to subsidy schemes by the government of India