48 percent more fertilizer was sold than a year earlier

By: STA Date: 2024. 05. 17. 11:00

Fertilizer distributors sold 522,000 tons of fertilizer directly to agricultural producers in the first quarter of 2024.The volume sold was 48 percent more than a year earlier, despite this – as a result of the price reduction – the net sales revenue of fertilizer sales decreased by HUF 25 billion to HUF 71.8 billion.

According to KSH’s calculations, fertilizer prices were on average 43.6 percent lower in the first quarter of 2024 than in the same period of the previous year. The 10 largest fertilizer distribution companies sold 89 percent of the total amount of fertilizer directly to agricultural producers in the first quarter of 2024. The nitrogen-phosphorus-potassium (NPK) active ingredient content of fertilizers purchased by agricultural producers in the first quarter of 2024 amounted to 161,000 tons, 52,000 tons (+47.8 percent) more than a year earlier, but still not reaching the first quarter of 2022 quarterly turnover. The nitrogen active substance content was 47.3, phosphorus nearly 60, and potassium about 45 percent higher compared to the base period. The proportion of NPK active substances in the first quarter of 2024 did not change compared to a year earlier (90:5:5).

In terms of natural weight, in the first quarter of 2024, 522,000 tons of fertilizer were sold directly to agricultural producers, of which 483,000 tons were single-component fertilizers and 39,000 tons were compound fertilizers. The ratio of single-component and compound fertilizer was 92:8.

The total volume sold increased by almost one and a half times (+47.6 percent) compared to a year earlier, within which producers bought 47.4 percent more of single-component nitrogen fertilizer (154 thousand tons) and 51.3 percent more of compound fertilizer (13 thousand tons). The turnover of simple potassium fertilizer rose by 33.4 percent, so 3.2 thousand tons of it were sold, the sale of single-component phosphorus fertilizer was also a third more: 236 tons were sold compared to 176 tons a year earlier.

AKI PÁIR