MT. JULIET, Tenn. (DTN) -- Farmers could purchase a ton of potash for $353 last July. That same ton of fertilizer costs $549 today, according to DTN's weekly survey of fertilizer retailers for the last week of July 2021.
While the average retail cost of potash is up 15% from the same time last month, none of the seven other fertilizers tracked by DTN saw a significant increase, which DTN designates as a price change of 5% or more. The price of two other fertilizers actually fell for the second week in a row.
After potash, MAP prices increased the most, about 4% higher than last month, to $753/ton.
DAP prices climbed 3% to $695/ton.
The average price of urea was about 2% higher than last month at $554/ton.
10-34-0 and anhydrous prices each inched about 1% higher at $631/ton and $737/ton, respectively.
UAN prices showed very minor declines, with the average price of UAN28 dropping $1 from last month to $365/ton. At $419/ton, UAN32 was $2/ton lower than last month.
On a price per pound of nitrogen basis, the average urea price was at $0.60/lb.N, anhydrous $0.45/lb.N, UAN28 $0.65/lb.N and UAN32 $0.65/lb.N.
The Mosaic Company, one of the world's largest potash producers, reported its quarterly revenue up 37% year-over-year to $2.8 billion as stronger pricing more than offset lower sales volumes.
"Mosaic's results for the second quarter of 2021 highlight the benefits of our transformation efforts in a strong pricing environment," Joc O'Rourke, president and CEO, said in a news release. "Underlying agricultural markets remain constructive, and this is driving demand for fertilizer. The second half of 2021 is expected to be one of our strongest periods in more than a decade."
The company said 90% of its anticipated third-quarter sales are already committed and priced, leading it to expect average realized prices of $90 to $100 per metric ton (mt) higher for phosphate products and $25 to $35 for potash. You can read the entire news release here: file:///….
Fertilizer prices at the retail level have all increased significantly from a year ago. 10-34-0 is now 36% more expensive, potash is 54% higher, urea is 56% more expensive, UAN32 is 60% higher, anhydrous is 62% more expensive, UAN28 64% higher, DAP is 69% more expensive and MAP is 75% higher compared to last year.
DTN surveys more than 300 retailers, gathering roughly 1,700 fertilizer price bids, to compile the DTN Fertilizer Index each week. In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….
In last week's column, Russ Quinn took a deeper look at DTN's potash data, which dates back to 2010, to put the fertilizer's recent price run-up into perspective. You can read it here: https://www.dtnpf.com/….
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Katie Dehlinger can be reached at email@example.com
Follow her on Twitter at @KatieD_DTN
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