Fertilizer prices slightly higher than in 2014
The current retail prices of all major fertilizers are slightly higher compared to prices one year ago in 2014, according to U.S. Department of Agriculture statistics.
The approximate retail prices for bulk purchases of major fertilizers per ton, published in the Feb. 19, 2015 USDA Illinois Department of Agriculture Market News Report, were:
- $554 for Diammonium phosphate (DAP)
- $574 for Monoammonium phosphate (MAP)
- $476 for Potash
- $455 for Urea
- $327 for Urea-Ammonium Nitrate (UAN 28 percent)
- $730 for Anhydrous ammonia
The monthly price trends for the period of May 2013 to February 2015 are shown in the figure.
The current retail prices are slightly higher compared to prices one year ago in 2014. Generally, fertilizer prices increase during the planting season and decrease during the off season. The decline in commodity prices has not translated to a similar decline in fertilizer prices. Given the fact that fertilizer is the single biggest input cost for corn production, Michigan State University Extension recommends producers be aware of price fluctuations over time and take advantage of purchasing options. Industry experts believe that despite the fertilizer market stability, any unforeseen changes in global demand or supply may cause dramatic price shifts.