Mineral fertilizer prices in Ukraine in 2024
Mineral fertilizer prices in Ukraine
Analytical Reports
Types of mineral fertilizers in Ukraine
Every one of us loves delicious dishes made from high quality products. There are different crops sold in the market. All of them meet quality standards. Centuries-old and proven methods of feeding plants with the necessary elements are used for their cultivation.
A very important point in working with fertilizers is the ability to distinguish mineral fertilizers. The very first part is the division into:
- Simple (only one nutrient is present);
- Complex (several major and minor elements are present);
- Microfertilizers.
The most common in use are simple fertilizers. These include: nitrogen, phosphorus, potassium. Nitrogen fertilizers are usually the most common among agrarians. Nitrogen fertilizers contain 13-15% nitrogen. However, phosphorus ones are needed by plants continuously. They are obtained by sawing phosphorus-containing rocks. Phosphate is the result of a chemical process. The third type is potassium. Potassium nutrition is responsible for the watering of the cells. All these species are excellent for development, but slowly. A compound fertilizer with all the nutrients is used to provide the crop. Examples are potassium nitrate, ammophos and magnesium-ammonium phosphate. In addition to these, complex-mixed fertilizers are very common in Ukraine. These include nitrofoska, fertilizer nitroammofoska (azofoska) and others. And the last microfertilizers, which are mandatory for plants. Potassium, phosphorus and nitrogen are the most important elements.
Fertilizer prices in 2024
In general, the sale of mineral fertilizers in Ukraine has kept the possibility and opportunity to obtain quality products at any time, and a ton of useful substances has an affordable cost for many agrarians.
In 2023, exports of mineral fertilizers totaled $2 billion compared to $1.7 billion in 2022. Overall, sales of this product category increased by 26% compared to 2022.
As of 2024, Ukraine is Europe’s leading fertilizer producer. It accounts for approximately 25% of all fertilizers produced on the continent. The share of Ukrainian fertilizers on global markets is also at a very high level of about 10%.
Due to a significant reduction in the grain harvest, the production of concentrated nitrogen fertilizers in 2023 compared to 2022 decreased by 8.2%.
Price per 1 ton of mineral fertilizer:
- ammonium nitrate – UAH 7200
- urea – 8000 UAH
- double superphosphate – 13700 UAH
Dynamics and forecasts of mineral fertilizer prices in Ukraine
Despite the harsh circumstances of the war, the Ukrainian fertilizer market continues to impress with its stability, although it has led to exorbitant prices in 2023 and forced many agricultural producers to significantly move away from fertilizer application rates. Agrarians typically use the classic ratio where a ton of nitrate should not cost more than 2.5 tons of wheat, relative to urea it is 3.0-3.5 tons of corn. In 2023, these ratios were twice, even three times higher, but are now approaching the norm. In addition, imports of fertilizers increased significantly when only two large chemical plants – Cherkassy Azot and Rovnoazot – remained in operation in Ukraine after the beginning of the Russian aggression. Currently, importers have saturated the domestic market, while local producers are increasing production (starting from 2023, the phased launch of fertilizer production at Sumykhimprom began). The decline in global natural gas prices and the desire of domestic producers to maintain their market share amid growing fertilizer imports have led to a significant drop in prices since the beginning of 2024. So far, farmers have no problems with the ability to buy fertilizers, and their consumption is growing much faster than expected. This gives hope for a speedy recovery of Ukraine’s fertilizer market to pre-war levels.