Demand for phosphorus fertilizers may grow in 2H2020
EuroChem believes that in the second half of this year, the consumption of phosphorus fertilizers may increase due to various factors.
“Favorable economic conditions for the development of agricultural production may boost the demand for phosphorus fertilizers in the second half of 2020. The widespread popularity of barter in Brazil, the optimal moisture conditions of Indian soils, and good forecasts for the rainy season are likely to ensure stable demand for monoammonium phosphate and diammonium phosphate in these critical markets in the third quarter. The rise in corn prices may also have a positive impact on US autumn demand in the second half of 2020,” says the company’s press-release related to the 1H2020 financial results.
“On the supply side, phosphorus fertilizer export from China remains significantly lower than in 2019. Altogether, we expect the global supply and demand balance will further strengthening global phosphorus prices.”