Nutrien expects the global consumption of nitrogen fertilizers to rise by 3%
According to the report of the Nutrien, the world demand for nitrogen fertilizers in the current year will increase by about 3% due to the influence of strong fundamental factors in the agriculture of the planet. Nevertheless, there are may appear problems with the supply of nitrogen fertilizers due to the delays in their production and the implementation of projects, which together with high energy costs support prices.
As follows from their report, high prices for carbamide in the global market and strong demand led to an increase in its supplies from China by over 40% in the first half of 2021. However, China’s authorities appealed to national chemical companies to prioritize the domestic market, which may drop exports from China by the end of 2021.