Fertilizers Price Skyrocket as Mosaic Sees Upward Price Momentum to Continue Till 2022
The world’s largest crop nutrient supplier, Nutrient Ltd, raised its yearly projections with robust crop prices supporting the increase in fertilizer spending. Potash, one of the key fertilizers rich in potassium and a key nutrient for the soil, saw its prices continue to increase in all the key markets. As per the Nutrient statement on Monday, the record demand and increasing growing margins firmed up the fertilizer prices. The outlook was on the back of a statement issued by Mosaic Co, the largest phosphate producer, which expects the price momentum to march upwards. 90% of fourth-quarter sales are already priced and committed to the market even as customers request commitments as far as the second quarter of 2022.
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