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Mosaic company outlines factors influencing fertilizer price increases
One of the nation’s leading fertilizer companies has outlined three major factors they see causing fertilizer shortages and price spikes.
Last week, the Director of Market and Strategic Analysis for Mosaic Company Andy Jung released an editorial saying they recognize the frustration felt by farmers and retailers but reminds them that fertilizer prices are not determined by specific companies.
Jung points to three major factors contributing to the rise in prices: fertilizer demand following commodity prices, the increase in cost to produce fertilizer, and trade and supply disruptions continuing to shape the market. He adds that severe weather and natural disasters have also led to plant delays and closures.
He says while tariffs placed on Moroccan and Russian phosphate fertilizer imports have contributed to price increases, they have also resulted in “a more balanced and fair-trade market, creating a more competitive environment with trusted and reliable suppliers for American agriculture in the long term.”
Jung says Mosaic has shifted typical trade volumes to boost domestic fertilizer availability and is doing everything they can to “offer stable prices and a reliable supply of critical fertilizer to US farmers.”
