Fertilizer prices remained elevated in Q3 compared to both the first half of the year and the end of 2024. Potash prices surged at the start of the year as the Trump administration threatened tariffs on Canada, the top supplier to US farmers. During the third quarter, prices were 20 percent higher than at the end of last year. Meanwhile, phosphate prices continued to climb through Q3 on the back of supply shortages, spurred by export restrictions from top producer China. Prices were further influenced by US tariffs. What happened to phosphate and potash prices in Q3? According to data from the World Bank, the average quarterly phosphate price rose to US$770.60 per metric ton (MT), up from US$673.20 in Q2, and significantly higher than the annual average of US$563.70 in 2024. On a monthly basis, phosphate climbed to US$736 in July, then climbed to a three year high of…
