The global phosphorus fertilizer market is expected to remain stable
According to the press-release of EuroChem, the global phosphorus fertilizer market will remain stable until the end of 2021 due to strong prices for crops and favorable conditions of affordability for their producers all around the world.
EuroChem experts forecast India to become the main driver of the global market. With low stocks of phosphorus fertilizers and state support through increasing subsidies for agricultural enterprises and farmers, one can expect a stable demand.
“However, with the limited supply from China, there are still factors contributing to the continued tense market environment. In Western countries, the market is still adapting to changes in trade flows caused by the countervailing duties imposed by the United States,” EuroChem’s press-release says.