Ammonia prices: The U.S. price of ammonia, the primary source of nitrogen fertilizer, has risen by a factor of six in the past two years
The U.S. price of ammonia, the primary source of nitrogen fertilizer, has risen by a factor of six in the past two years, and most of these increases have occurred since March 2021. Ammonia prices generally follow natural gas prices because ammonia is. U.S. ammonia prices closely follow international ammonia prices because approximately 14% of total U.S. ammonia consumption is met by imports. Generally, prices of commodity chemicals closely correlate with prices of feedstock .
Nitrogen-based fertilizer is essential for producing major crops such as corn and wheat. In the United States, nitrogen-based fertilizer is used for nearly all corn acreage toAfter the 2020–21 winter heating season , international natural gas prices rose sharply, but the U.S. Henry Hub benchmark traded in a relatively narrow band, between $2.50 per million British thermal units and $4.00/MMBtu, through September 2021.
Prices of natural gas in Western Europe and Northeast Asia continued to rise during the 2021–22 heating season, and they averaged approximately $35.00/MMBtu in the last week of March. Although U.S. natural gas prices also rose, they ended the 2021–22 heating season at close to $5.00/MMBtu, compared with approximately $2.60/MMBtu in March 2021.that in 2021, the United States produced 17 million metric tons of ammonia, behind China and Russia . U.S.
Consumed as both a feedstock and a fuel, natural gas is important for producing nitrogen-based fertilizers. As a feedstock, natural gas, which is primarily methane (CH
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