Farm Director, KC Sheperd, is talking with the President and CEO of The Fertilizer Institute, Corey Rosenbusch, about an update on the fertilizer market and more.
The market softened earlier in 2023, Rosenbusch said, and he sees the market to be in a more stable place going into the growing season.
“We are watching what is going on in Israel right now,” Rosenbusch said. “ICL is a major fertilizer producer. Right now, none of their operations or ports have been disrupted.”
As 90 percent of fertilizer is consumed outside of the United States, Rosenbusch said when the markets are impacted internationally by geopolitical events, it impacts the U.S.
“When all of these strange trade flows happen, at the end of the day, that adds logistics cost that the farmer ends up picking up in the end,” Rosenbusch said. “Even something that far away is going to have an impact on a grower here in the heartland.”
Looking at top-of-mind issues for ag producers and companies, Rosenbush said logistics is a big theme, beginning with rail service. Although this is a concern, Rosenbusch said there have been improvements lately.
Demand for fertilizer should be strong in 2024, Rosenbusch said, and grain stocks-to-use ratios are still tight on a global basis.
“We are going to have the supply available, and hopefully stable pricing going forward,” Rosenbusch said. “I think we are really excited to see what happens with some of these new innovative technologies going into next season.”
The Fertilizer Institute has recently launched its Bio Stimulant certification program.
“It is a standard that looks at efficacy; it looks at the competition; it looks at safety of these new biological products that are on the market,” Rosenbusch said. “Hopefully, it gives farmers, but mainly crop advisors, a tool to vet some of these new products that are on the marketplace so they can do their trials. It just adds another tool in the toolbelt for growers.”
