The global fertilizer market showed a clear divergence this week. Nitrogen fertilizer prices declined sharply, while phosphate fertilizers continued to strengthen under firm cost support from sulfur feedstocks. India has entered the fertilizer stocking period for the Kharif monsoon season. At the same time, soaring costs for water-soluble fertilizers and phosphoric acid are placing considerable pressure on industry margins.

Phosphoric acid is a core basic raw material in the phosphate chemical industry. Industrial phosphoric acid production is mainly divided into two routes: thermal-process phosphoric acid and wet-process phosphoric acid. Among them, wet-process phosphoric acid accounts for more than 90% of the global market due to its large production capacity, controllable cost structure, and strong suitability for mass fertilizer production.