Fertilizer Prices to Stay High Through 2028 Amid Global Instability
Fertilizer prices are expected to remain high through 2028 due to geopolitical instability and tight global supplies, according to a report from CoBank's Knowledge Exchange.
CoBank economist Jacqui Fatka attributes this trend to continued instability in the Middle East, limited phosphate availability, and tight global fertilizer supplies. The region accounts for over 30% of global urea exports and more than 60 million tons of fertilizer and raw materials annually.
Farmers may need to factor in elevated fertilizer expenses when making planting and purchasing decisions for several growing seasons as the high costs put pressure on crop production expenses. Fertilizer represents a significant input cost for corn and other crops with high nutrient requirements.