Sannong Zhongguo reports that the planting season is in full swing and fertilizer sales are booming. The price of fertilizer has been increasing since September.
The prices of both raw fertilizer and compound fertilizer increased. The main reason is the increased price of raw materials like urea.
The price of phosphate fertilizer also increased because the price of raw materials such as sulfur, sulfuric acid, and synthetic ammonia, also increased. Furthermore, freight fees also increased. The price increase of nitrogen, phosphorus, and potassium also caused the price increase of compound fertilizer. Traders had no choice but increase the price of fertilizer to make up for the increased cost price of raw materials. The price of fertilizer is likely to continue to rise, which in turn will have an effect on the cost price of food products.
Source: cnr.cn