A market analyst watching trade in the Black Sea region expects fertilizer prices to remain high into 2023.
Rejeana Gvillo with Farmers Business Network tells Brownfield Russia still isn’t exporting its normal capacity of fertilizer and natural gas prices remain high, pressuring fertilizer prices.
“I wish I had good news for the producer, but unfortunately I think it is going to be a repeat if not exacerbated from what they’ve faced the last 365 days.”
She says the US domestically produces a lot of nitrogen-based fertilizers and imports most of its potash from Canada but, “Fertilizer is a global market and so our prices are responsive to what is going on globally and we just don’t see fertilizer prices really easing.”
She says they expect prices to remain high for other inputs as well including pesticides and herbicides.