DTN Retail Fertilizer Trends

OMAHA (DTN) -- For the first time since the last week of June, average retail prices for all eight major fertilizers were lower compared to last month, according to data collected by DTN for the second week of July 2023.

While prices for all eight of the major fertilizers were lower, only one saw a significant drop, which DTN designates as anything 5% or more. Anhydrous was 6% lower compared to last month. The nitrogen fertilizer had an average price of $734 per ton.

The remaining seven fertilizers were just slightly less expensive compared to last month. DAP had an average price of $811 per ton, MAP $823/ton, potash $614/ton, urea $609/ton, 10-34-0 $730/ton, UAN28 $393/ton and UAN32 $465/ton.

On a price per pound of nitrogen basis, the average urea price was $0.66/lb.N, anhydrous $0.45/lb.N, UAN28 $0.70/lb.N and UAN32 $0.73/lb.N.

European Union (EU) statistics agency Eurostat said the consumption of fertilizers in agriculture across the European Union decreased for the year in 2021, while 2022 usage was likely affected by price increases spurred by the war in Ukraine, Dow Jones reported.

Data from the agency showed that consumption of mineral fertilizer such as nitrogen and phosphorus was 10.9 million metric tons (mmt) two years ago, which represents a year-on-year decrease of 2.2% compared with 2020. The use of nitrogen-based fertilizers was estimated at 9.8 mmt, down 2% on the year, while the use of phosphorus fertilizers registered a decline of 3.8% to 1.1 mmt in the year.

Eurostat said that while the 2022 numbers are not available yet, the Russian invasion of Ukraine and international sanctions led to sharp increases in fertilizer prices. That has likely affected the use of fertilizers in the EU, also given that nitrogen-based fertilizers have been strictly dependent on Russian gas.

All fertilizers are now lower by double digits compared to one year ago: 10-34-0 by 19%, DAP 21%, MAP 22%, urea 30%, potash 31%, UAN32 34%, UAN28 35% and anhydrous by 49% compared to a year prior.

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/….

Striking workers at the Port of Vancouver have forced a Canadian fertilizer company to limit production at one potash mine. You can read about it here: https://www.dtnpf.com/….

DRY
Date Range	DAP	MAP	POTASH	UREA
Jul 11-15 2022	1030	1052	885	861
Aug 8-12 2022	982	1032	881	812
Sep 5-9 2022	952	1009	878	800
Oct 3-7 2022	934	997	869	826
Oct 31-Nov 4 2022	930	981	857	826
Nov 28-Dec 2 2022	926	960	831	795
Dec 26-Dec 30 2022	885	891	765	751
Jan 23-Jan 27 2023	855	865	714	708
Feb 20-Feb 24 2023	836	834	673	666
Mar 20-Mar 24 2023	821	812	645	627
Apr 17-21 2023	826	812	643	626
May 15-19 2023	829	831	627	619
June 12-16 2023	823	832	621	624
July 10-14 2023	811	823	614	609
LIQUID
Date Range	10-34-0	ANHYD	UAN28	UAN32
Jul 11-15 2022	904	1449	606	701
Aug 8-12 2022	881	1365	578	678
Sep 5-9 2022	866	1357	579	658
Oct 3-7 2022	813	1390	565	652
Oct 31-Nov 4 2022	759	1426	583	680
Nov 28-Dec 2 2022	753	1416	583	681
Dec 26-Dec 30 2022	751	1325	573	679
Jan 23-Jan 27 2023	754	1237	523	630
Feb 20-Feb 24 2023	741	1124	470	554
Mar 20-Mar 24 2023	740	1036	429	514
Apr 17-21 2023	740	995	423	507
May 15-19 2023	739	895	421	514
June 12-16 2023	737	781	406	476
July 10-14 2023	730	734	393	465

Russ Quinn can be reached at Russ.Quinn@dtn.com

Follow him on Twitter @RussQuinnDTN

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