Abstract
Strong demand and the high cost of raw materials have contributed to dramatic increases in fertilizer prices in 2021. In Illinois, the price of diammonium phosphate, the most widely used phosphate fertilizer, has risen by over 78% during the past year, according to a Nov. 4 report from the US Department of Agriculture. The prices of two nitrogen-based fertilizers, anhydrous ammonia and urea, more than doubled over the same period. The price of ammonia shipped from Tampa, Florida , recently reached an all-time high, according to the investment firm Jefferies Group. Much of the price increase has happened since the beginning of October. The cost of natural gas, which is used to make many fertilizers, has been increasing, especially in continental Europe and the UK . In addition, Hurricane Ida shut down some fertilizer production in the US earlier this year. And power outages caused problems for fertilizer plants in
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