Fertilizer consumption expected increase by 3 per cent in 2012

Fertilizer consumption expected to increase by 3 per cent in 2012

10:00 PM, 8th January 2012
Fertilizer consumption expected to increase by 3 per cent in 2012

 

PARIS, FRANCE: The International Fertilizer Industry Association (IFA) has released its short-term Fertilizer Outlook 2012-2013 that shows the fertilizer sector is maintaining a steady stream of investment in new capacity, capitalizing on the positive forecasts of a 3 per cent increase in consumption worldwide for the main nutrients (nitrogen, phosphorus and potassium) in 2012. Agricultural commodity prices peaked at the beginning of 2011 and remained high throughout the first half of the year. Last year’s global cereal harvest reached a new record of 2.3 billion metric tonne.

IFA estimated that global fertilizer consumption increased by 6.2 per cent in 2010-11. “World nutrient supply in 2011 expanded in response to such robust fertilizer demand. The global production of ammonia, phosphate rock and potash reached record levels. Massive investments in new capacity projects since 2009 have now started to add significant new supply of urea, DAP and potash,” said Michel Prud’homme, Director, IFA Production and International Trade Service.

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