BEIJING, Aug. 4 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, reports that China's fertilizer prices are up in the second half of the year.
In the first half of 2010, the basic characteristics of the domestic fertilizer market were: continued rapid growth in fertilizer production and large increases in import and export volume year on year. It is expected that fertilizer prices in the second half of 2010 will rise slowly.
China's National Development and Reform Commission's Price Monitoring Center showed that, from January to June this year, urea's average monthly retail price was, in consecutive order, 1,940 RMB/ton, 1,970 RMB/ton, 1,950 RMB/ton, 1,870 RMB/ton, 1,860 RMB/ton and 1,850 RMB/ton; diammonium phosphate's average retail price respectively was 2,990 RMB/ton, 3,050 RMB/ton, 3,080 RMB/ton, 3,060 RMB/ton, 3,030 RMB/ton and 3,010 RMB/ton; price of imported potassium chloride was per month 3,750 RMB/ton, 3,740 RMB/ton, 3,650 RMB/ton, 3,490 RMB/ton, 3,420 RMB/ton and 3,390 RMB/ton.
With the approach of a new fertilizer season, fertilizer use and movement on the market should increase despite the extreme weather factors that caused fertilizer's spring sales to slow. Since March, China's fertilizer prices have fallen quickly and continued to decline.
Unusually hot weather, drought and heavy rain have all affected China's fertilizer market, while high price of potassium chloride imports since last year have caused demand to decline. This year, prices continued to decline. Supply and demand imbalance has become the basic reason for the fertilizer market's sluggish first half-year.
Relative to the spring fertilizer season, the second half of the year is generally thought of as the off-season for domestic urea and diammonium phosphate sales. It is expected, then, that fertilizer prices in the second half will maintain a slow pace. However, expectations for high future grain prices will create enthusiasm that should foster growth in the market, eventually offsetting the small off-season decline in the market.
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