Food and agricultural economics
2026-04-26
10 minute read
20 sources
US Fertilizer Through 2026: Potash, Ammonia, and the Affordability Reset
US growers consumed roughly 21 million tonnes of nitrogen, 4.2 million of phosphate, and 4.5 million of potash in 2024 against a price stack that has retraced two thirds of the 2022 peak. The structural questions are import dependence (95 percent for potash), the cost wedge that Henry Hub gives CF Industries and Koch over Yara and OCI, and how Section 232 actions on Russia and Morocco interact with a USDA net farm income line that fell from 185 billion dollars in 2023 to 140 billion in 2024.
US fertilizer consumption in 2024 totaled approximately 21.0 million tonnes of nitrogen, 4.2 million of phosphate (P2O5), and 4.5 million of potash (K2O), per USDA Economic Research Service. Prices have retraced sharply from the 2022 invasion peak: muriate of potash (MOP) FOB Saskatchewan landed near 300 dollars per tonne in Q4 2024 again...