Mosaic aiming to keep fertilizer prices “rational”
Mosaic says that it is aiming to keep fertilizer prices “rational” for growers, but the company says that it understands the frustration even though prices are on par with the rest of the world.
A petition by the company resulted in tariffs on phosphate imports but Mosaic claims that has little impact on the market. It says that it has more to do with global supply and demand.
China has banned phosphate exports in order to meet its own demand, which has map prices above $900 dollars per ton this week and DAP prices at $825 dollars.
The Minnesota Farmers Union questioned those rising costs.
The group’s president says that he is skeptical and says that fertilizer prices go up any time corn prices increase. He is calling for price transparency and says that costs are always slow to retreat. He adds that farmers are limited in what they can do to offset higher costs, even when corn is more than $5 dollars a bushel.