OMAHA (DTN) -- Retail fertilizer prices were evenly mixed, according to locations tracked by DTN for the first full week of November 2022.
Four fertilizers were slightly lower compared to last month while the remaining four were slightly higher. No fertilizer was significantly higher or lower; DTN designates a significant move as anything 5% or more.
The four slightly lower were MAP, potash, urea and 10-34-0. MAP had an average price of $980/ton, potash $853/ton, urea $812/ton and 10-34-0 $758/ton.
The other four fertilizers were slightly more expensive looking back to last month. DAP had an average price of $931/ton, anhydrous $1,434/ton, UAN28 $582/ton and UAN32 $680/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.88/lb.N, anhydrous $0.88/lb.N, UAN28 $1.04/lb.N and UAN32 $1.06/lb.N.
A study by the WTO and the UN Food and Agriculture Organization (FAO) calls for improved access to fertilizer across the world to avert a looming food crisis, according to a WTO press release. The study outlines policy recommendations for G20 governments, highlighting the importance of keeping the fertilizer market open to meet global demand.
Several factors have led to rising fertilizer prices globally. These include the war in Ukraine, high inflation, supply chain disruptions and the global economic downturn.
The study urges G20 governments to deploy all policy measures available to deal with the fertilizer crisis, underlining the need to make every effort to keep trade in fertilizers open so that supplies reach the countries in most need of them.
"The study recommends, in particular, that G20 governments keep food, feed and fertilizer markets open and minimize disruptions to trade in fertilizers, including from export restrictions inconsistent with WTO rules," a press release said.
"It stresses the need to ensure access to fertilizers for the most vulnerable countries, including through mobilizing international financial support and leveraging risk management tools, such as fertilizer contract swaps to hedge against extreme price volatility."
The study also recommends improving soil fertility and accelerating innovation for more efficient use of fertilizers, with greater use of precision farming practices.
Most fertilizers continue to be higher in price than one year earlier, although one is now slightly lower.
Urea is now 2% less expensive from one year ago. UAN28 is 3% more expensive, 10-34-0 is 5% higher, MAP is 8% more expensive, UAN32 is 11% higher, potash is 12% more expensive, DAP is 13% higher and anhydrous is 23% 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.
In addition to national averages, MyDTN subscribers can access the full DTN Fertilizer Index, which includes state averages, here: https://www.mydtn.com/….
The Fertilizer Institute (TFI) send a letter to Congressional leadership last week urging Congress to act to prevent a potential rail strike, which would have a negative effect on fertilizer. You can read it here: https://www.dtnpf.com/….
|Nov 8-12 2021||821||906||762||832|
|Dec 6-10 2021||840||919||778||887|
|Jan 3-7 2022||863||931||807||913|
|Jan 31-Feb 4 2022||877||933||813||905|
|Feb 28-Mar 4 2022||879||937||815||887|
|Mar 28-Apr 1 2022||1033||1045||868||1022|
|Apr 25-29 2022||1049||1082||881||1004|
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|Nov 7-11 2022||931||980||853||812|
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|Nov 7-11 2022||758||1434||582||680|
Russ Quinn can be reached at Russ.Quinn@dtn.com
Follow him on Twitter @RussQuinnDTN
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