The price of phosphate fertilizer, which is applied to the soil prior to planting to provide nutrients essential for plant growth, has reached the lowest of the year until last Friday, the 26th, according to consultancy Agrinvest Commodities. In January, the value of the product was $ 430 per ton, and throughout the year, the price was falling back to $ 350 per ton. The index represents a $ 80 drop in price per ton or 18.6% year-to-date. According to analyst Marcos Araújo, the drop is related to the slower buying pace of producers, who are waiting for a better time, and says this is a good time to negotiate, as there are expectations of growth in the fertilizer sector around 2 % to 3%.
Source: Canal Rural