Fertilizer industry trends

“Fertilizers are essential inputs for agricultural production,” says Azam Nikzad, market analyst/coordinating researcher with the Alberta government. “In Alberta, fertilizer and lime accounted for approximately $2.5 billion of total farm operating expenses in 2022. Domestic demand for fertilizer is tied to seeded area and farm income, which is influenced by global crop prices.”The fertilizer industry is global. The total market was valued at US$202 billion in 2023, with n