Asia
In Asia, MAP prices moved through a year of mixed conditions in 2024. Early in the year, values stayed mostly steady because export limits from major producing countries and softer feedstock costs kept the market balanced. As the year progressed, supply began to build up in several places, and demand from agriculture was not very strong during the middle months. This caused a mild downturn, especially when buyers avoided bulk purchases and waited for clearer direction. Later in the year, the market shifted upward again. Higher import costs, tighter global availability, and stronger agricultural activity toward the winter season added support. Even with government efforts to control fertilizer expenses, these rising cost pressures lifted MAP prices by the final quarter.
Europe
Europe saw a generally firm trend during the first half of 2024, influenced by higher production costs and frequent supply chain disturbances. Demand from farmers was stable at first but softened after the main planting season ended, keeping prices from rising too sharply. Supply availability improved after the summer months, bringing some calm to the market. However, logistical challenges linked to trade route disruptions and limited availability of key inputs continued to push prices gradually higher through the end of the year. Government support measures helped ease the burden for end-users, but they were not enough to fully offset rising cost pressures.
North America
In North America, MAP prices stayed under pressure for much of the year due to weaker agricultural demand and higher inventories. Early in 2024, the market faced a clear oversupply situation, as many buyers had already secured fertilizer for the planting season. Weaker buying interest and steady production kept values on the softer side through mid-year. Inventory levels remained high even in later months, but global supply disruptions and slightly stronger seasonal demand provided some limited support. Despite this, overall conditions in the region remained mostly subdued.