On May 31, JA Zen-Noh announced the decision on the price of autumn fertilizer (June-October) for the 2022 (Reiwa 4) fertilizer year. Imported urea increased by 94% from the previous quarter (compared to spring fertilizer), and many items reached record highs.
The price of fertilizer raw materials has soared due to the tight supply and demand due to economic sanctions on Belarus and export restrictions from China since October last year, while the demand for fertilizer raw materials has been strong due to the rise in grain prices in the world. Russia's invasion of Ukraine further tightened supply and demand.
Exports from Russia, Belarus and China, the world's leading fertilizer exporters, stagnated, concentrating demand from around the world on limited alternative sources.
International market conditions for nitrogen, phosphoric acid and potassium have all risen to record highs.
According to Zenno, the previous surge was in 2008, and Kari Chloride exceeded $ 1,000 a ton in international market conditions, but this time it rose to $ 1,200 in March.
The rapid depreciation of the yen also affected the price increase.
Urea is imported + 94%, domestically produced + 73%, potassium chloride + 80%, and compound fertilizer (15-15-15), which is a price index, is + 55%. , The price level of these items is said to be the highest ever.
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