The US price of ammonia, the primary source of nitrogen fertilizer, has risen by a factor of six in the past two years, and most of these increases have occurred since March 2021.
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Ma’aden’s maritime ammonia fleet now consists of seven vessels, which will leverage Ma’aden’s ammonia shipping capacity of 2 million tpy.
Chris Lawson, head of fertilizers at CRU Group, has said that demand destruction is increasingly likely due to high prices and supply shortfalls.
Phosphate rock concentrate samples from the Elandsfontein project in South Africa will now be prepared for shipment to a number of potential buyers to confirm product specifications.
The country's agriculture ministry said the ban would help "to maintain balance in the domestic market" and applied to nitrogen, phosphorus, potassium and complex fertilizers.
Brazil's Agriculture Minister Tereza Cristina Dias has said that Brazil has secured the support of Argentina, Bolivia, Chile, Paraguay and Uruguay for a proposal excluding fertilizer products that will be submitted to the United Nations' Food and Agriculture Organization.
The plant has been designed with an initial production capacity of 150 000 tpy, with capability to expand up to 450 000 tpy.
Jorf Fertilizers Co. III owns and operates an integrated phosphate fertilizer production facility in Jorf Lasfar, Morocco, with the capacity to produce up to 1.1 million metric tpy of phosphate-based fertilizers.