Global fertilizer prices are expected to rise

US sanctions against Belaruskali and its trader Belarusian Potash Company have led to a sharp increase in world prices for potassium chloride to $600 per ton. They may rise further to $1 thousand per ton, the information and analytical service of Fertilizer Daily predicts.

“The reason is that Belaruskali was banned from export through the port of Klaipeda and transport through Ukraine and was forced to consider supplies through Russia to various seaports,” Fertilizer Daily says.

At the same time, the price of nitrogen fertilizers is expected to rise due to a special military operation initiated by Russia in Donbass. It has already led to the suspension of ammonia transit from Russia to Odessa Port Plant for subsequent transshipment to sea vessels.

Moreover, if nitrogen fertilizer enterprises stop operating in Ukraine, the fertilizer will rise in price not only in the domestic market but in European countries as well, even though Ukraine exports relatively small volumes there.