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Sulfur prices have topped $1,000/t in global spot markets, according to Farmdoc Daily analysis. The surge is attributed to Strait of Hormuz disruption and Russia's sulfur export ban, which together have removed about two-thirds of globally traded sulfur.
Sulfur is a key input for phosphoric acid, so higher sulfur costs lift DAP and MAP production costs and keep phosphate fertilizer prices elevated into 2027.
fertilizerdaily.comKim ClarksenSep 6, 2026After 114 past bullish geopolitics events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +1.2%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
