Nitrogen fertilizer prices continue to fall

Key facts

• Nitrogen fertilizer prices are falling.
• Urea futures show a price drop since the beginning of the year.
• The decline in fertilizer prices started in January.
• The downward trend continued through the first quarter of 2023.

Fertilizer prices are a key input cost for agriculture. Declining prices can reduce costs for farmers, potentially impacting crop yields and profitability. Conversely, sustained low prices could signal weakening demand or oversupply in the fertilizer market.