Prices rise for 5 fertilizers, urea dips slightly

No fertilizer was higher or lower considerable amount for the fourth week in a row. DTN designates a significant move as anything 5% or more.

Once again, five fertilizers had slightly higher prices. DAP had an average price of $810/ton, MAP $847/ton, potash $481/ton, 10-34-0 $672/ton and UAN32 $501/ton.

Three fertilizers were slightly lower looking back to the prior month. Urea had an average price of $656/ton, anhydrous $770/ton and UAN28 $418/ton.

On a price per pound of nitrogen basis, the average urea price was $0.71/lb.N, anhydrous $0.47/lb.N, UAN28 $0.75/lb.N and UAN32 $0.78/lb.N.

In a Rabobank report titled, "What a closure of the Strait of Hormuz could mean for global fertilizers," by Samuel Taylor, Rabobank senior analyst-farm inputs, wrote that the closing of the Strait of Hormuz would be negative for prices. Nearly 45% of all urea exports flow through this important waterway as does other varying amounts of nutrients.

While closing the Strait of Hormuz would raise fertilizer prices, the impact would vary throughout the different regions around the world at different levels at different times. The most exposed countries could be Brazil and India which import considerable amounts of nutrients, Taylor wrote.

He wrote that for urea, Brazil and India hold the largest deficits, with Brazil importing between 7.5 million to 8.5 million metric tons (mmt) per year and India importing between 7 mmt to 11 mmt/year, depending on the strength of government policy.

"Seasonality of demand would also be a significant factor in local price formation. Any immediate risk of volatility would likely also point to Brazil, as import demand picks up seasonally from June through November, which aligns with pricing seasonality at the wholesale level," Taylor wrote.

"Compounding this risk is the fact that Brazil is behind schedule on its urea imports (in 2025). When adjusted for seasonality, pricing in Brazil often peaks around October at the height of import demand for urea," according to the report. 

Seven fertilizers are now higher in price compared to one year earlier: MAP by 3%, 10-34-0 5%, DAP 7%, anhydrous 9%, UAN28 21%, UAN32 29% and urea by 30%.

The remaining fertilizer, potash, is 5% lower compared to last year.

DTN gathers fertilizer price bids from agriculture retailers each week to compile the DTN Fertilizer Index. DTN first began reporting data in November 2008.