Sales of potassium fertilizers are reaching a record volume
As the Nutrien specialists predict, the positive situation in global agriculture will support potassium fertilizer prices, especially granular fertilizers, in 2021.
According to their estimates, in 2021, amid the strong demand for potassium fertilizers, it’s expected to see a record volume of its sales in the global market at the level of 68-70 million tons. Within the increasing consumption of potassium fertilizers, recent contracts for the supply of potassium chloride to India were concluded at $280 per ton, or $33 higher than the previous levels.
At the same time, prices for phosphorus fertilizers will also be high, however, they will be under pressure from the increased cost of raw materials for their production. Nevertheless, they will be supported by a favorable conjuncture in the agricultural crop market.