OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for the third week of September 2022 continue to show varied prices. Five of the eight major fertilizers are lower in price compared to a month ago, while the remaining three are higher.
DTN designates a significant move as anything 5% or more, and no fertilizers were considerably lower or higher.
Five of the eight major fertilizers were just slightly lower. DAP had an average price of $950/ton, MAP $1,005/ton, potash $875/ton, 10-34-0 $860/ton, and UAN32 $670/ton.
Three fertilizers were slightly more expensive than they were a month ago. Urea had an average price of $811/ton, anhydrous $1,376/ton and UAN28 $578/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.88/lb.N, anhydrous $0.84/lb.N, UAN28 $1.03/lb.N and UAN32 $1.05/lb.N.
USDA Secretary Tom Vilsack announced on Tuesday that $500 million in grants will be available to increase American-made fertilizer production in the wake of prices hikes on U.S. farmers caused by the war in Ukraine, according to a USDA press release (https://www.usda.gov/…).
The Fertilizer Production Expansion Program is part of a whole-of-government effort to promote competition in agricultural markets. The funds are being made available through the Commodity Credit Corporation.
Grants will be used to support independent, innovative and sustainable fertilizer production to supply American farmers. Funds also will expand the manufacturing and processing of fertilizer and nutrient alternatives in the U.S. and its territories.
The maximum award will be $100 million, while the minimum award will be $1 million. The grant term is for five years, and USDA will begin accepting applications in the coming days via www.grants.gov.
"USDA believes in the growth of innovative, local businesses owned and shared by people who can best serve their own unique community's needs, fill gaps, and build opportunities," Vilsack said. "Recent supply chain disruptions have shown just how critical it is to invest in the agricultural supply chain here at home."
Despite lower prices in recent months, all fertilizers continue to be considerably higher in price than they were one year ago.
MAP is 28% more expensive, DAP is 34% higher, 10-34-0 is 36% more expensive, urea is 39% higher, potash is 40% more expensive, UAN28 is 51% higher, UAN32 is 54% more expensive and anhydrous is 78% higher 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.
Farmers in Africa are turning to organic fertilizer with commercial fertilizer prices being double or even tripled since Russia's war on Ukraine has begun limiting fertilizer supplies, according to Dow Jones. You can read it here: https://www.dtnpf.com/….
|Sep 20-24 2021||709||786||625||585|
|Oct 18-22 2021||810||863||716||735|
|Nov 15-19 2021||825||911||769||859|
|Dec 13-17 2021||858||935||796||901|
|Jan 10-14 2022||863||932||807||913|
|Feb 7-11 2022||876||935||815||905|
|Mar 7-11 2022||919||955||822||901|
|Apr 4-8 2022||1040||1056||875||1031|
|May 2-6 2022||1057||1081||881||1001|
|May 30-Jun 3 2022||1056||1079||880||979|
|Jun 27-Jul 1 2022||1039||1053||885||867|
|Jul 25-20 2022||1005||1041||887||836|
|Aug 22-26 2022||972||1026||880||804|
|Sep 19-23 2012||950||1009||875||811|
|Sep 20-24 2021||633||772||383||436|
|Oct 18-22 2021||659||940||451||492|
|Nov 15-19 2021||739||1220||571||651|
|Dec 13-17 2021||790||1420||579||663|
|Jan 10-14 2022||796||1430||584||679|
|Feb 7-11 2022||827||1487||600||699|
|Mar 7-11 2022||866||1490||603||704|
|Apr 4-8 2022||901||1534||629||729|
|May 2-6 2022||906||1534||631||730|
|May 30-Jun 3 2022||905||1529||633||731|
|Jun 27-Jul 1 2022||904||1466||611||702|
|Jul 25-20 2022||894||1431||596||693|
|Aug 22-26 2022||869||1331||575||676|
|Sep 19-23 2012||860||1376||578||670|
Russ Quinn can be reached at Russ.Quinn@dtn.com
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