Fertilizer Markets: Nitrogen, Phosphates, Potash and Sulphur

Fertilizer prices are a leading indicator of food inflation: what farmers pay for urea, phosphates and potash this season shows up in grain prices the next. Supply is concentrated in a handful of gas- and mineral-rich exporters, and governments intervene often through export quotas, state tenders and sanctions.

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Prices from public exchange, CFD and fund data via TradingView, delayed where the exchange requires. Funds and listed producers are shown as market proxies where no public futures exist. Physical cargo prices differ by grade, origin, Incoterm and payment terms.

Physical price screening

TS24 SCREENING14 AUGUST 2026Benchmarks and indicative physical ranges

Commodity	Price / range	Basis	vs 1M	vs Jan 26	vs Aug 25
Urea granular	$400–405$/MT	Middle East FOB futures	Down from July peak	Elevated	~ −15% YoY
Iranian urea	~$370–420$/MT	FOB Iran	Stable–down	Up	Mixed
Egypt / Gulf urea	~$410–480$/MT	FOB	Down	Up	Mixed
DAP	~$730–820$/MT	Global CFR / FOB	Stable	Up strongly	Up
MAP	~$730–870$/MT	Global	Stable	Up	Up
Phosphate rock	~$130–180$/MT	Morocco / MENA	Stable	Up	Up
Potash / MOP	~$310–420$/MT	Major import markets	Stable	Stable–up	Stable
Ammonia	~$500–700$/MT	Gulf / Tampa / Europe	Stable–down	Up	Up
Sulphur	~$200–300$/MT	Gulf / China	Volatile	Up strongly	Up
Ammonium nitrate	~$390–540$/MT	Europe / MENA	Stable	Up	Up
NPK	~$460–690$/MT	Global	Stable	Up	Up

From the TradeScout24 Weekly Market Monitor of 14 August 2026. Indicative screening ranges, not offers. The latest issue is in the Weekly Market Monitor.

Market structure

Nitrogen output follows the cost of natural gas: the Arab Gulf, Russia, Egypt, Algeria, Nigeria and Trinidad are low-cost urea and ammonia exporters, while China exports under government quotas. Phosphates are dominated by Morocco's OCP, China, Saudi Arabia's Ma'aden and Russia. Potash comes mainly from Canada, Russia and Belarus. India, Brazil, the United States and Southeast Asia are the largest importers.

Price formation

There are no liquid public futures for most fertilizers, so the market prices off weekly assessments by origin: urea FOB Middle East, Egypt and the Baltic; DAP FOB Morocco and CFR India; potash CFR Brazil and Southeast Asia. Indian state import tenders frequently set the global tone for urea and DAP. European gas prices set the marginal cost of nitrogen, and sulphur and ammonia costs drive phosphate margins.

Trade mechanics

Bulk cargoes of 25,000–50,000 tonnes dominate; bagged product moves in smaller lots and containers. Buyers are importers, blenders, cooperatives and state agencies. Contracts specify nitrogen or nutrient content, granulation, moisture and bagging, with independent inspection, certificates of analysis and origin, and payment by letter of credit or cash against documents.

Risk and complianceCheck export licences and quotas in the origin country, sanctions on the producer and its owners, and whether the seller holds a genuine allocation from the plant. Urea offered well below the FOB Middle East range is a warning sign.

Desk coverage

Product	Grades and markets	Unit
Urea 46% N	Granular and prilled; the most traded nitrogen fertilizer	$/MT
Ammonia, ammonium nitrate, UAN	Nitrogen feedstocks and straight fertilizers	$/MT
DAP, MAP, TSP	Phosphate fertilizers	$/MT
Phosphate rock	Raw material for phosphate production	$/MT
Potash (MOP, SOP)	Potassium fertilizers	$/MT
Sulphur	Refinery by-product; key phosphate input	$/MT
NPK and organomineral	Compound and specialty fertilizers	$/MT

Further readingProcedures and documents: Urea and fertilizers procedure · Sulphur procedure · Bank, KYC and compliance · Live benchmarks · Current Fertilizers & Inputs listings on TradeScout24

TradeScout24 Insights · Market overview · Live data via TradingView; screening from the Weekly Market Monitor (14 August 2026) · Last reviewed 31 Oct 2026