Fertilizer prices expected to remain elevated into 2023
Anhydrous ammonia prices are expected to persist above $1,100 per ton, more than double the price since January 2021, signaling fertilizer costs could remain elevated for the 2023 spring planting season and beyond.
Supply chain and global economic issues, high commodity prices and the Russian-Ukraine conflict are contributing factors to the continuing inflated prices worldwide, said Gary Schnitkey, professor of farm management at University of Illinois, in a recent report on weekly farm economics and outlook for nitrogen prices next year.
“Inputs tend to rise when commodity prices increase,” Schnitkey said.
“Changes in supply chains, along with labor shortages, that resulted from COVID have been longer-termed and more difficult to deal with. In addition, supply chains ...
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