Fertilizer Prices Surge Amid Geopolitical Tensions

Retail fertilizer prices are continuing to jump higher but recent increases have become much more pronounced with all 8 major fertilizers more expensive than a month ago. According to prices tracked by DTN for the fourth week of March 2026, four of the fertilizers saw double-digit increases from a month ago.

Urea led the way higher as the nitrogen fertilizer was an incredible 35% higher compared to last month. The liquid fertilizer had an average price of $826/ton; last week the price was $677/ton.

Urea is more than $800/ton for first time since the third week of November 2022. That week the average price was $802/ton.

Both anhydrous and UAN32 were 20% higher looking back a month. Anhydrous had an average price of $1,035/ton while UAN32 was at $558/ton.

Anhydrous was above the $1,000/ton level for the first time since the second week of April 2023. That week the average anhydrous price was $1,003/ton.

UAN32 was above the $500/ton level for the first time since the first week of July 2025. That week the average price was $501/ton.

UAN28 was 17% higher looking back to the prior month and had an average price of $484/ton. 10-34-0 was 7% more expensive than last month and had an average price of $710/ton.

This was the first time 10-34-0 has been above the $700/ton level since the second week of August 2023. The average price that week was $705/ton.

The remaining three nutrients were slightly higher in price compared to last month. DAP had an average price of $857/ton, MAP was $906/ton and potash $489/ton.

MAP has risen above the $900/ton price level for the first time since the second week of December 2025. That week the average MAP price was $917/ton.

On a price per pound of nitrogen basis, the average urea price was $0.90/lb.N, anhydrous $0.63/lb.N, UAN28 $0.86/lb.N and UAN32 $0.87/lb.N.

With the average anhydrous price now above $1,000/ton, I thought it would be interesting to go back through our data set to see some of the high prices for that nitrogen fertilizer.

The highest anhydrous price in our data, which goes back to the first week of November 2008, came in the third and fourth week of April 2022. The average price then was $1,534/ton.

As you might recall, fertilizer prices were elevated for a couple of years because of various supply issues across the world. Four-digit anhydrous prices were present from the first week of November 2021 to the third week of April 2023.

The only other time anhydrous was at $1,000/ton or higher was at the very beginning of our data. For the first two weeks of our data in November 2008, anhydrous was slightly above $1,000/ton.

On the other end of the spectrum, the lowest anhydrous price in our data came the fourth week of October 2017. That week the average price was $393/ton. There were many weeks of sub-$500/ton anhydrous in 2017 and 2018, according to our data.

Hopefully we see lower prices again.

All eight fertilizers are now higher in price compared to one year earlier: potash by 6%, 10-34-0 9%, MAP 11%, DAP 12%, UAN32 32%, both anhydrous and UAN28 34%, and urea by 46%.

Below is the change in the fertilizer price index over the last year: