Robert Blair photo from Blair Farms
Fertilizer: Prices Going Up
Boise--Idaho farmers are in thick of the summer season but the threat of high fertilizer costs next year have many shopping around early.
The recently released results of a study from a global fertilizer industry organization show that even though a demand downturn has led to lower prices in the last few months, that demand is seen rebounding, sending prices back to levels that were familiar just a year ago. The International Fertilizer Industry Association (IFA) recently released its Fertilizer Outlook 2009-2013 in which the group suggests, after the sudden fall in demand during the 2008-09 fertilizer campaign, a rebound may be expected for the 2009-10 campaign.
The world fertilizer markets experienced a period of extreme volatility in 2008, IFA officials say, as the combination of a global economic downturn and a deepening credit crisis in most leading fertilizer-consuming countries dampened short-term prospects. Fertilizer sales and import demand collapsed through the fourth quarter of 2008. World fertilizer consumption is estimated down 5.1%, from 168.1 million tonnes (Mt) of nutrients in 2007-08 to 159.6 Mt in 2008-09.