The average price of fertilizers decreased by almost 30 percent

By: STA Date: 2023. 11. 24. 09:00

Among the materials used directly in agricultural production, only the average price of fertilizers decreased by nearly 30 percent. In the first three quarters of 2023, the price of plant protection products rose by 24 percent compared to the same period of the previous year, and that of veterinary medicinal products by 14.7 percent. The price increase of animal feed was 2 percent, while that of seed was approximately 18 percent.

Among the fertilizers highlighted in the figure, the price of MAS fell the most in the third quarter of 2023 (July–September), by nearly two-thirds compared to the same period of the previous year. Producers were able to buy ammonium nitrate and nitrosol (with 30 percent active ingredient) at half the price compared to the base period. The price of potassium chloride decreased by 54 percent, that of MAP by 58 percent, and that of fertilizers with the composition of NPK 8-21-21, NPK 8-20-30, and NPK 15-15-15 decreased by between 45 and 49 percent. compared to the previous period. Compared to the second quarter, in the third quarter of 2023, the price of MAS decreased the most among the examined single-component fertilizers, by nearly 15 percent. The price of ammonium nitrate and urea decreased by 13% to 13%, while the price of nitrosol decreased by 6 percent – to the smallest extent. Among the compounds, the price of NPK 8-20-30 compound fertilizer was 37 percent lower. Potassium chloride cost 39 percent less in the third quarter compared to the previous quarter.