DTN Retail Fertilizer Trends
Nutrien Ramps Up Potash Production as Fertilizer Prices Rise
OMAHA (DTN) -- According to retail fertilizer prices tracked by DTN for the fourth week of April 2022, prices are somewhat mixed to end the month of April.
Six fertilizers' prices were higher, but none were up significantly. DTN designates a significant move as anything 5% or more.
DAP had an average price of $1,049 per ton, MAP $1,082/ton (all-time high), potash $881/ton, 10-34-0 $906/ton, anhydrous $1,534/ton (all-time high) and UAN32 $730/ton (all-time high).
MAP is now at an all-time high price for the phosphorus fertilizer after tying the all-time high price last week.
Two fertilizers were slightly lower compared to last month but nothing notable.
Urea had an average price of $1,004/ton, while UAN28 was at $631/ton.
On a price per pound of nitrogen basis, the average urea price was at $1.09/lb.N, anhydrous $0.94/lb.N, UAN28 $1.13/lb.N and UAN32 $1.14/lb.N.
Dow Jones reported on Tuesday, May 3, that with the war in Ukraine blowing a hole in global fertilizer supplies, Nutrien is planning on increasing production to fill these deficits.
The Canadian fertilizer company is ramping up its potash output to a record 15 million tons this year. Next year, the company said it is looking at even further production increases.
"If we look at the ability to flex production, a lot of it resides with Nutrien," interim Nutrien CEO Ken Seitz said.
Nutrien's stocks gained 5% on Tuesday.
Most fertilizers continue to be considerably higher in price than one year earlier.
10-34-0 is 48% more expensive, MAP is 54% higher, DAP is 67% more expensive, UAN28 is 81% higher, UAN32 is 87% more expensive, urea is 96% is higher, potash is 103% higher and anhydrous is 116% more expensive compared to last year.
DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.
Farm equipment manufacturer John Deere could see setbacks in the year due to rising fertilizer prices affecting demand for equipment, Dow Jones reported. You can read it here: https://www.dtnpf.com/….
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Russ Quinn can be reached at Russ.Quinn@dtn.com
Follow him on Twitter @RussQuinnDTN
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