The global fertilizer market remained highly polarized this week. Sulfur prices continued to surge sharply, significantly increasing phosphate fertilizer production costs. Long-term growth prospects for ammonium sulfate remain positive, although near-term market sentiment has softened. India finalized major phosphate fertilizer purchases from Morocco, securing regional supply for the upcoming agricultural season.

This week, the global fertilizer market was primarily driven by four key factors: disruptions to shipping through the Strait of Hormuz, surging raw material prices, China's newly issued urea export quota combined with India's latest urea tender, and the conclusion of India's annual potash contract.

Sulfur prices surged sharply, severely disrupting the global phosphate fertilizer supply chain and forcing multiple producers to reduce output. China’s ammonium sulfate market shifted from rapid price increases to a correction phase due to weaker demand, declining export profitability, and growing supply pressure. India’s 2026 annual potash contract established a stronger global price floor, supporting international potash market sentiment despite increasing regional demand d

China Potash Market Upward | U.S. Agriculture Under Shortages | Cost Inversion in Phosphate Sector

Global fertilizer markets remain highly volatile as geopolitical tensions, Middle East shipping disruptions, rising sulfur costs, and shifting seasonal demand continue to reshape trade flows and production economics. This week, international urea prices corrected sharply after India’s IPL tender, sulfur prices surged to multi-year highs, Europe’s fertilizer industry faced mounting energy pressure, and climate agencies warned of a potential strong El Niño return

Recently, driven by a combination of escalating geopolitical tensions, tightening raw material supply, rising freight costs, and the release of rigid demand from the spring planting season, the global fertilizer market has trended upward overall. Prices for nitrogen, phosphate, and potash fertilizers have strengthened across the board, with increasingly differentiated regional supply–demand dynamics.

I. Sulfuric acid prices keep rising, pressuring phosphate fertilizer producers. Rumors say China may suspend its exports (over 40% of global output) from May, aiming to stabilize domestic supply, though no official notice exists; phosphate fertilizer costs will remain high short-term. II. China’s Q1 2026 fertilizer trade booms: exports 8.162mt (+14.1% YoY), imports 5.001mt (+30.5% YoY), with March average CIF import price USD 375.49/ton. III. Three major institutions warn fue

Phosphate fertilizer costs remain elevated, driven primarily by the sharp rise in sulfur prices. Both Monoammonium Phosphate (MAP) and Diammonium Phosphate (DAP) markets continue to hold firm at high levels.