WASHINGTON, D.C. (RFD-TV) — Geopolitical issues have raised concerns about fertilizer supplies.
Craig Dick with Phospholutions says he believes prices will stay high for a couple of years.
“Largely because of sulfur. Sulfur is a critical input in the phosphate fertilizer manufacturing process, and supply has been disrupted by the Strait of Hormuz situation. Further export restrictions from other major producing countries also have caused prices to remain elevated, and sulfur costs have risen sharply over the last few months, and this contributed to many phosphate production curtailments. This is keeping pressure on the phosphorus supply and prices.”
Agriculture Secretary Brooke Rollins recently announced eight new projects that could add more than one million tons of domestic fertilizer production annually, including phosphate, nitrogen and potash.
Rollins says USDA awarded funding to companies with shovel-ready projects and hopes most will be completed by the end of next year.
