World demand for nitrogen fertilizers is estimated to grow
The American fertilizer maker CF Industries expects a growth in demand for nitrogen fertilizers in various regions of the world, outstripping the increase in production capacities in the next four years.
According to the management’s estimates, the consumption of nitrogen fertilizers in India will remain at a high level, although urea imports into the country may decrease or rise depending on the production performance (in 2019, 7.4 million tons of nitrogen fertilizers were produced in India). Similarly, the demand for urea will increase in Brazil, where its domestic output is expected to drop.
At the same time, the nitrogen fertilizer prices on the planet will to a large extent depend on the swing of their production in China, based on the burning of coal, and the volume of their exports from China, which may amount to 2-3 million tons.