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Argus data show global fertilizer affordability fell to 0.75 points in June, its lowest since September 2022, as fertilizer prices rose while crop values dipped to their lowest since September 2020. Phosphate prices rose to their highest since September 2022 on Indian demand and limited Chinese DAP supply.
Potash (MOP) prices reached a two-year high on geopolitical uncertainty and strong Southeast Asian demand.
Poor affordability can curb fertilizer application and future crop yields, while firm DAP and potash prices raise input costs for grain and oilseed growers. Weak crop values combined with high inputs squeeze farm margins and feed demand.
argusmedia.comLili Minton, Elena MataroMar 25, 2024argusmedia.comElena MataroMar 25, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
