allot to a late report by Rabobank , the mentality for the global plant food market is positive in the come years , with some challenges and potential risk to be monitored . The global fertilizer market is reclaim , with an estimate step-up in usage of around 3 % in 2023 , following a 7 % dip in 2022 due to various complications in the marketplace . Regarding kerfuffle due to the latest Israel - Hamas war , the wallop on fertilizer markets is go steady as marginal at this stage .
The Affordability Index shows a overconfident mentality for fertiliser buying in 2024The report highlights the overconfident outlook for fertilizer buying in 2024 , with an expected increase of close to 5 % . " These form align with our Affordability Index , which shows much good conditions for buy fertiliser than a year ago , " aver Bruno Fonseca , Senior Analyst – Farm Inputs at Rabobank . " The index ’s movements corroborate our first moment of utilization growth in 2023 , with atomic number 7 growing 2 % , phosphate 3.9 % , and potash 5 % . "
N market confront challenge , while the outlook for potash and phosphate is positiveWhile the atomic number 7 market is look challenge with lower demand from edible corn and wheat growers , the potash and inorganic phosphate outlook is confident .
" As wintertime approaches in Europe , there is more uncertainty in the innate natural gas securities industry and related uncertainty in the production cost of nitrogen plant food , " explains Fonseca . Grain and oilseed markets also confront some uncertainties , with El Niño at the doorstep after a few effective crops in Brazil and the US .
On the other hand , the potash market is going through a period of ample supplying , while the phosphate market is on the rise with the restitution of Chinese MAP / DAP exports .
Israel - Hamas war could impress global fertilizer markets , but the shock is currently insure as marginalThe report also highlights the likely shock of the late Israel - Hamas war on global fertilizer grocery . Israel is a healthy provider of phosphate and potash , account for around 3 % of phosphate exports and 8 % of potash exports globally . Disruptions in exports could cause price spike , and the conflict may discourage vas operators from border on the Mediterranean larboard of Ashdod , causing delay and additional logistical costs .
Despite these potential peril , the impact on fertiliser markets is seen as borderline at this degree . " Global fertilizer markets have sufficient availability and sufficient alternate provider of potash and phosphate products in fount of logistical disruptions in Israel , " Fonseca says .
Source : rabobank.com
