FAO predicts annual demand growth for fertilizers for about 1.8%
According to the press-service of the FAO, Food and Agriculture Organization, in 2018 demand for fertilizers will amount to 200.5 million tons. In its report FAO predicts a 1.8% annual growth rate. That is 25% higher than in the same period in 2008.
Global demand for nitrogen fertilizers is projected to grow by 1.4% per year until 2018; demand for phosphate and potash fertilizers, in the meantime, will increase by 2.2% and 2.6%, respectively. According to FAO report, production volume of all three types of fertilizers is out to grow by 3.7%, 2.7% and 4.2% per year, respectively.
The report does not project prices of fertilizers, yet notes that after the hike in 2011, in the middle of 2014 overall prices were lower than in 2010.
Europe will offer a surplus of all three types of fertilizers due to overproduction in Eastern Europe and Central Asia. In the period from now and until 2018 there is no changes expected for demand of fertilizers in Western Europe.