Due to the difficulty in falling prices of raw materials and driving up production costs, the prices of international fertilizers market continued to rise this year. Experts reminded the country that it should avoid the “unfavorable†situation.
Since the beginning of this year, the shipping price of dry bulk carriers for chemical fertilizers has been at its peak in the past five years. The freight index has risen by 5,000 points (at the end of 2003, it was 3510 points). This is mainly due to the fact that the prices of raw materials such as oil, natural gas, etc. are difficult to fall back, and the production costs of fertilizers are constantly rising. In addition, some countries have also imposed restrictions on the export of chemical fertilizers. These factors have made the global fertilizer market still showing signs of tight supply and rising prices.
Taking urea as an example, 80% of the world's urea is made of natural gas. The price of natural gas rose by 36% from the previous year, driving up the price of urea. In October last year, the price of bulk urea produced in the Middle East rose to US$251/ton, a 46.8% increase from the beginning of the year. The current rally has not eased. Prices of other varieties such as diammonium phosphate have also increased by 15% to 18% from the average of the beginning of the year.
Industry sources have warned that higher prices of fertilizers in the international market will increase the price of imported fertilizers, which will most likely drive up prices of domestic products, which is detrimental to the stability of domestic agriculture; Chinese fertilizer manufacturers will strive to increase exports because of greater export profit margins. It may lead to tight supply, which is not conducive to the stability of the domestic market. China should avoid this unfavorable situation.
Since the beginning of this year, the shipping price of dry bulk carriers for chemical fertilizers has been at its peak in the past five years. The freight index has risen by 5,000 points (at the end of 2003, it was 3510 points). This is mainly due to the fact that the prices of raw materials such as oil, natural gas, etc. are difficult to fall back, and the production costs of fertilizers are constantly rising. In addition, some countries have also imposed restrictions on the export of chemical fertilizers. These factors have made the global fertilizer market still showing signs of tight supply and rising prices.
Taking urea as an example, 80% of the world's urea is made of natural gas. The price of natural gas rose by 36% from the previous year, driving up the price of urea. In October last year, the price of bulk urea produced in the Middle East rose to US$251/ton, a 46.8% increase from the beginning of the year. The current rally has not eased. Prices of other varieties such as diammonium phosphate have also increased by 15% to 18% from the average of the beginning of the year.
Industry sources have warned that higher prices of fertilizers in the international market will increase the price of imported fertilizers, which will most likely drive up prices of domestic products, which is detrimental to the stability of domestic agriculture; Chinese fertilizer manufacturers will strive to increase exports because of greater export profit margins. It may lead to tight supply, which is not conducive to the stability of the domestic market. China should avoid this unfavorable situation.
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