Fertilizer prices fell by almost 30 percent

In natural terms, 1 million tons of fertilizer were sold directly to farmers in the first three quarters of 2024, of which 816 thousand tons were single-component fertilizers and 228 thousand tons were compound fertilizers. The ratio of single-component and compound fertilizers was 78:22 in the first nine months of 2024, compared to 80:20 a year earlier, meaning that the ratio of simple fertilizers decreased. Distributors sold 23.1 percent more nitrogen fertilizers and 21.5 percent more potassium fertilizers to end users in the first three quarters of 2024 compared to the same period a year earlier, while demand for phosphorus fertilizers fell by 21 percent. The volume of single-component nitrogen fertilizers decreased significantly in natural weight in the third quarter of 2024, with distributors selling approximately 49.5 thousand tons (–38.5 percent) less compared to the same period in 2023. At the same time, 34 thousand tons more compound fertilizers were sold.

Thus, the total volume of fertilizers sold in July, August and September decreased by 5.5 percent compared to the same period in 2023

Fertilizer sales in the first three quarters of 2024 decreased by 16.9 percent (-31.7 billion forints) in value compared to the same period in 2023 Within this, the value of the turnover of single-component nitrogen fertilizers was 27 percent lower, that of single-component phosphorus fertilizers was 34 percent lower, and that of single-component potassium fertilizers was 1 percent lower. At the same time, the turnover of compound fertilizers increased by 8.4 billion forints in the first three quarters of 2024, which represents an increase of 21.5 percent compared to the base year.

AKI PÁIR