The average price of fertilizers fell in August. According to Mosaic Fertilizantes, the Fertilizer Purchasing Power Index (IPCF) for August closed at 1.50, dropping 19% when compared to the previous month. The result reflects fertilizers price reductions and the increase in agricultural commodities prices, with weather worries regarding U.S. harvest, favoring, even more, the exchange ratio for the rural producer. In August, phosphate and potassium fertilizers dropped when compared to July. The main factors continue to be a rebalancing between supply and demand. Nitrogen prices rose, impacted by uncertainties in the supply of natural gas in Europe.
Source: Mosaic/Global Fert (*Translated by Ia Niani)