Fertilizer prices decrease slightly but remain constrained by trade policies.

According to the report, fertilizer prices decreased in the period of October-November 2025. Specifically in November, DAP (diammonium phosphate) prices decreased by 6% and TSP (triple superphosphate) prices decreased by 3%, while urea prices increased by 4% compared to the previous month. Although there have been signs of cooling, fertilizer prices generally remain high, about 17% higher than in the same period of the previous year. The main reason is the increase in input costs, especially for nitrogen fertilizers, along with high consumption demand and existing trade barriers. In the coming period, the fertilizer price index is forecast to rise by over 20% this year, then decrease in the period of 2026-2027 when new capacity expansion projects come into operation. However, the price level is still expected to be significantly higher than the average level of the period from 2015-2019. The market outlook continues to be at risk from potentially rising input costs and the ...