An economist says geopolitical conflicts will have the greatest impact on the 2023 fertilizer market for U.S. growers.
Executive Director of Research with RaboBank Sam Taylor says even though the fertilizer supply is tight, may producers have already purchased inputs for 2022. “A lot of people will be focusing more on the Brazilian markets for a supply of a lot of fertilizers and you’re seeing that in a lot of fertilizer pricing. However, given the environment that we’re in and given the uncertainty, it probably behooves growers in particular to take a view on 2023 as soon as possible.”
He says Russia’s invasion into Ukraine has created more volatility in the markets and it’s likely that the biggest price hikes are coming.
