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Fertilizer Market Report – December 18, 2024
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Fertilizer Market Report – December 18, 2024
In this week’s fertilizer report: Federal government’s Sustainable Ag Strategy suffers setback; China’s Fertiliser Market Update; Last Week’s North American Urea and Phosphate Action; and Other Industry Tidbits.
This is the last newsletter of 2024. It seems as if the year flew by in the blink of an eye. We will be back in January. Enjoy the holidays.
News of the Week
Federal Government’s Sustainable Ag Strategy Suffers Setback
Six national crop organizations are distancing themselves from the federal government’s Sustainable Ag Strategy (SAS).
RealAgriculture has confirmed the Canadian Canola Growers Association, Canola Council of Canada, Cereals Canada, Grain Growers of Canada, Pulse Canada, and Soy Canada have informed the government of their withdrawal from the SAS advisory committee.
The committee, established in late 2022, was tasked with helping the government create the strategy, which is supposed to serve as an over-arching plan for improving environmental outcomes in Canadian agriculture.
These six national groups and their member organizations represent nearly all conventional crop production and acres across the country.
China’s Fertiliser Market Update
Waypoint Commodities does a good job of explaining what is happening in the Chinese fertilizer market. China is influential in moving global fertilizer prices via its export policy.
Approaching the end of 2024, the Chinese fertiliser market continues to show intriguing developments, reflecting the broader complexities of global supply chains and domestic production dynamics. Price fluctuations across nutrient categories and raw materials, political actions, including export bans and sanctions, have all contributed to high volatility in the markets.
China’s Fertiliser Market Update | LinkedIn
North America Urea Last Week
According to Green Markets, the urea price range in Western Canada was flat WoW at C$680- $700/mt.
There is a urea offer from a retailer near Regina at C$705/mt.
Last week, on the back of the Indian urea tender the NOLA urea price increased by 3.5% on average to US$317-$328/st from the previous week’s range of US$308-$315/st.
According to Falcon commodities, the week started with December urea NOLA quoted at US$322/st bid and US$330/st offer. January was US$332/st bid and $340/st offer, February was US$337 bid and US$345 offer and March was US$343 bid and US$350 offer. All of these spreads were higher than last week and are showing an upward sloping curve indicating the market is expecting stronger prices going into spring 2025 which should be expected.
North America Phosphate Last Week
According to Green Markets, the latest delivered Western Canada MAP price range was flat WoW at C$$1,145-$1,160/mt for the third consecutive week.
There is a MAP offer from a retailer near Regina at C$1,140/mt.
MAP NOLA prices settled down at the high end of the range to US$595-$605/st, from a range of US$595-$610/st the previous week.
Industry Tidbits
- Cost of Canadian Fertilizer Imports: Post | LinkedIn
- TFI Study Highlights Fertilizer Industry’s $140 Billion Impact and Global Trade Ties: TFI Study Highlights Fertilizer Industry’s $140 Billion Impact and Global Trade Ties – The Fertilizer Institute
- Wheat is Cheap: Post | LinkedIn
- How much fertilizer will Canada need to import in 2025? Post | LinkedIn
- Food Insecurity by Country: Mapped: Food Insecurity By Country
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