Fertilizer Prices Rocket to All-Time High on Tightening Supplies
- New Orleans Urea spikes as major producer warns of shortage
- Crop-nutrient rally stokes concerns of rising food inflation
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Fertilizer prices keep soaring to unprecedented heights, signaling escalating costs for farmers and consumers around the world.
The Green Markets North American Fertilizer Price Index rose 4.4% to $1,094.35 per short ton on Friday, surpassing a record set a week earlier. Prices for New Orleans urea, a popular nitrogen fertilizer, jumped 8.3% to $812 per short ton as major producer CF Industries Holdings Inc. warned of continued shortages.