SPIMEX statistics confirm fertilizer prices increased
According to the press-service of Saint Petersburg International Mercantile Exchange (SPIMEX), as of March 10, in the first quarter of this year, 52,735 thousand tons of mineral fertilizers were sold at the exchange. That has already exceeded the indicators of the first quarter of 2020 by more than 2.5 times (19.606 thousand tons).
According to the available data, ammophos, 23.065 thousand tons of which were sold, is in high demand among consumers. Also were sold other types of fertilizers, including 14.512 thousand tons of ammonium nitrate grade B, 5.550 thousand tons of carbamide grade B, 4.1 thousand tons of NPK 10:26:26, 2.040 thousand tons of ammonium-phosphate-sulfate, 1.968 thousand tons of NPK(S) 15-15-15(10), 840 tons of NPK 16:16:16, 560 tons of liquid complex fertilizer, 60 tons of NPK(S) 8-20-30(2), and 40 tons of magnesium sulfate. At the same time, for the main types of mineral fertilizers, there has been an increase in prices at the exchange trading since the beginning of the current year, which as of March 5 ranged from 9.9% to 30.4%.
“The exchange market of mineral fertilizers is rapidly developing and growing at a record pace. In 2020, this market has grown more than 9 times compared to 2019. By the results of the first quarter, we can already say that the volume of sales at the exchange will more than double,” said Alexey Ryzhikov, Managing Director of SPIMEX. “The number of manufacturers’ warehouses from which the exchange commodity is shipped, and the regions in which they are represented are expanding. It can be noted that all the leading mineral fertilizer producers sell their products at the exchange auction.”