The global chemical fertilizer industry is worth over US$100 billion with worldwide consumption in the region of 173 million tons annually. Similar to most commodities the prices of manufactured fertilizers are sensitive to factors such as stock-to-use ratios, supply availability, crude oil prices, currencies, weather conditions in major agricultural economies and maritime freight rates.
World Fertilizer consumption has been increasing steadily ever since the 1920’s. Proper management of fertilizers is necessary since it can impact the makeup of food crops and contribute to healthy lives.
Fertilizer nutrients are usually classified into 3 categories, namely Nitrogen, Phosphates and Potash with the 7 mainstream products being Urea, DAP, Ammonia, Phosphoric Acid, Potash, Phosphate Rock, and Sulphur.