Fertilizer Prices Expected to Remain High
Washington--This year’s surge in fertilizer prices is not expected to abate any time soon. Anhydrous ammonia is up 57 percent from one year ago, phosphorus is up 46 percent, urea is up 17 percent and potash (potassium) is 15 percent higher in price. Competition for fertilizer from farmers in China, India and South America is driving prices higher in the U.S.
“Farmers are in a world market for fertilizer,” said Dave Coppess, executive vice president at Heartland Co-op in West Des Moines, Iowa. “It’s a situation much like the market for oil; as agriculture expands in other countries demand rises all over.”