Ukrainian NPK price rises due to Russian import ban

Since July 1, Ukraine has banned the import of Russian fertilizers, which has a direct impact on the compound fertilizer market. Because Ukrainian end users are expected to be in short supply, they are competing to buy products for the fall. This has also led to a rise in the price of compound fertilizers in Ukraine at an alarming rate of 1,000 – 1050 HRN ($38-40/ton) in a week. The price of NPK16-16-16 in Ukraine has risen from 11,500-11,600 HRN/ton CPT to 12,500-12,600 HRN/ton CPT, while the price of NPK 10-26-26 jumped from 13,600-13,700 HRN/ton CPT To 14,600-14,700 HRN/ton CPT. Importers are now looking for alternative suppliers.

Although Ukrainian buyers accept higher prices, buyers in the Baltic countries are delaying purchases because they expect Russia's compound fertilizer prices to fall as they expect more Russian sulfur-based compound fertilizers to be transferred from Ukraine to the Baltic states. At present, prices in the region are stable, but there is some downward pressure. Elsewhere, Vietnam's PVCFC has delayed the commissioning of its new 300,000-ton/year compound fertilizer plant in Kamao, Vietnam, until the end of August, due to delays in construction work, which was the company's second postponement.