Fertilizer Prices Weekly Update (April 13 – 20, 2026)

Key Takeaways

• Urea at $702/t, 81.7% YTD increase.
• DAP holds $722.5/t, 11.6% monthly rise.
• Sulfur at $847/t, 158.7% above last year.
• TTF gas spikes to $45/MWh, raising European nitrogen costs.
• Hormuz closure and China sulfuric acid halt tighten global fertilizer supply.

Pulse Analysis

The latest weekly data shows fertilizer benchmarks under unprecedented strain. Urea, the primary nitrogen indicator, traded at $702 per tonne, reflecting an 81.7% year‑to‑date surge driven by the re‑closure of the Strait of Hormuz. Vessels forced around the Cape of Good Hope add 10‑14 days to transit, inflating landed costs in Brazil and India and keeping DAP steady at $722.5 per tonne with a modest 0.35% weekly rise. Simultaneously, European TTF gas jumped to €41.43/MWh (≈$45), reviving operating‑cost worries for ammonia and urea plants.

Sulfur, a critical input for phosphate production, reached CNY 6,100 per tonne—roughly $847—still 158.7% above a year ago despite a 7.6% weekly pull‑back. China’s decision to suspend sulfuric‑acid exports from May adds a structural bottleneck that compounds the Hormuz‑driven supply crunch. The combined effect pushes downstream phosphate manufacturers to absorb higher raw‑material costs or pass them on, tightening margins across the fertilizer value chain.

For the broader agricultural sector, these cost spikes threaten to erode farm profitability and could feed into higher staple‑crop prices. Producers may seek alternative feedstocks, hedge gas exposure, or accelerate investments in regional logistics to mitigate the Hormuz risk. Meanwhile, policymakers and traders watch closely for any de‑escalation that could restore more predictable shipping routes and ease the price pressure that now looms over global food security.