Rome: Global Fertilizer Prices are increasing due to rising natural gas costs and ongoing logistical bottlenecks in the Middle East. Granular urea prices rose 2.5% on Wednesday, as of 1300GMT, to $720 per ton as shipping routes across the Strait of Hormuz remained limited.

According to Anadolu Agency, urea prices have increased around 86% from the beginning of this year. Energy costs, which account for approximately 60% of nitrogen fertilizer production, have seen recent volatility in gas markets, driving prices higher. This trend is expected to tighten margins for farmers and could influence planting decisions for the upcoming harvest season.

High prices persist as leading exporters like China and Russia maintain tight controls on shipments to ensure domestic supply.