Fitch Ratings has increased its short- and medium-term global fertilizer price assumptions following supply disruptions due to the Russia–Ukraine war significantly increased feedstock prices.
“Our longer-term price assumptions are unchanged,” said Fitch Ratings in a report on Thursday. The 2022–2024 ammonia price assumption increases are driven by Fitch’s raised assumption for European natural gas prices. Most EU ammonia producers curtailed manufacturing in March due to surging gas prices.
At the same time, supplies from Russia are affected by their shipping routes via Ukraine. —TLTP