Strong Demand, Tolerable Prices: Fertilizer won’t be as expensive in 2024

The Fertilizer Institute says we are headed into a more normal market period in terms of fertilizer prices.

The Fertilizer Institute is expecting good news price-wise for farmers this year.

The Institute’s President and CEO Corey Rosenbusch shared more about what to prepare for and what could impact the supply and transportation of some major fertilizers.

“I think it’s probably appropriate to say that we’re headed into a more normal market period,” Rosenbusch explained. “But at the same time, if you look at grain stock to use ratio on a global scale driven by a lot of factors including, you know, the continued war in Ukraine, there’s going to be high demand. So we are expecting strong demand to continue both in the fall [and in the spring].”

Rosenbush says, his contacts at some fertilizer companies are reporting “one of the best fall applications they’ve ever had.” He expects that positive trend to continue into the spring.

“So with strong demand — that means prices will continue to be strong, but they’re not going to be crazy,” he said.

The Fertilizer Institute hopes The Farm Bill provides tools to help producers manage market volatility.