Nitrogen fertilizer prices in Ukraine rise sharply amid Iran war

UkrAgroConsult

At the beginning of March, nitrogen fertilizer prices in Ukraine recorded a noticeable increase. According to market observations, during the first week of the month the average price of UAN rose by about UAH 1,000 per tonne, while urea increased by roughly UAH 1,500 per tonne.

Market participants note that the usual seasonal price rise has been amplified this year by geopolitical factors, particularly the escalation of the war in Iran. The conflict in the Persian Gulf region has created a shock for the global nitrogen fertilizer market, as a significant share of fertilizer trade and key raw materials passes through the Strait of Hormuz.

Uncertainty in the international market is prompting Ukrainian agricultural companies to act ahead of schedule. Many producers are trying to build up fertilizer stocks earlier than planned, fearing further price increases and potential supply disruptions.

At the same time, market players say the situation remains highly uncertain and largely depends on further developments in the Middle East. If the conflict continues or leads to additional logistical constraints, nitrogen fertilizer prices could keep rising, further increasing costs for farmers during the spring planting campaign.

Tags: fertilizers, Ukraine