Due to increasing natural gas prices, nitrogen fertilizer prices are relatively high compared to recent years and are expected to remain high and possibly increase through next spring, says Dave Franzen, NDSU Extension soil science specialist.
“China has supplied about a third of the world’s phosphate, and it has essentially banned exports through 2022,” Franzen continues. “That puts the burden of supply on other countries, including the United States.”
According to Franzen, the U.S. is not in a great position for mine and production expansion due to serious environmental concerns. This means that phosphate prices, which are already high, will continue to increase at least through 2022.
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