Prices for key components of fertilisers are rising and likely to stay high for the foreseeable future reports Bloomberg. Phosphate and Potash have both been in high demand since late last year, and with limited supply, geopolitical uncertainties in the producing nations, and no easing in purchasing activity, stock levels remain tight.
Expectations for an easing in demand or supply improvements never materialised and now the market is pricing in a continuation of the situation for the longer term.
Mosaic is one of the largest suppliers of fertiliser in the world. They report some country’s nutrient requirements are up circa 8% compared to 2020.