Fertilizer prices are driven by global supply and demand factors. The Mosaic Company Senior Vice President of Government and Public Affairs Ben Pratt says that’s especially true for phosphate. “Most notably, with a shortage of supply to meet demand, some countries have stopped letting producers export phosphates. China is an example and that’s put a crimp on supply, driving prices everywhere.” U.S. farmers are concerned about possible fertilizer shortages. The National Corn Growers Association would like the Mosaic Company to lift their tariffs on phosphorous fertilizer imported from outside of the United States. Pratt says the countervailing duties imposed on Morocco and Russian fertilizer producers earlier this year aren’t impacting U.S. phosphate prices at this point.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.