In the second full week of August 2024, average retail prices for eight major fertilizers continued to decline, marking the fourth consecutive week of decreases. The reductions were minor, falling short of the 5% threshold deemed significant by DTN.
The average prices per ton for various fertilizers were as follows: DAP at $745, MAP at $817, potash at $501, and urea at $500. On a nitrogen basis, the prices were $0.54/lb.N for urea, $0.41/lb.N for anhydrous, $0.60/lb.N for UAN28, and $0.59/lb.N for UAN32.
Amid these price changes, Fertilizer Canada has urgently called for government intervention to prevent a potential strike by the CN Railway and CPKC, which could severely impact the Canadian economy and global food security. Currently, both railroads have issued lockout and strike notices starting August 22, heightening concerns over the critical role rail plays in moving 75% of Canada’s fertilizer.
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