Phosphate Rock Price Monthly and Annualy
The Price of Phosphate Rock in International Commodity Markets for April 2024 is 152.50 dollars per metric tonne, as estimated by the World Bank. In comparison to the previous month, March 2024, when Phosphate Rock was valued at 152.50 dollars per metric tonne, there has been a net change of 0.00 dollars. This represents a percentage increase of 0.00%. Looking back to April 2023, the Phosphate Rock price stood at 345.00 dollars per metric tonne. The current data reflects a dynamic market with a modest increase in Phosphate Rock prices from April 2023 to April 2024, signaling potential shifts in global economic trends.
Phosphate Rock Price in Last 12 Months World Bank
Source: World-bank
Last Updated: 17 May 2024
| 13 | April 2023 | $ 345.00 | - | - |
| 12 | May 2023 | $ 345.00 | $ 0.00 | 0.00 % |
| 11 | June 2023 | $ 344.50 | $ -0.50 | -0.15 % |
| 10 | July 2023 | $ 342.50 | $ -2.00 | -0.58 % |
| 9 | August 2023 | $ 346.25 | $ 3.75 | 1.08 % |
| 8 | September 2023 | $ 347.50 | $ 1.25 | 0.36 % |
| 7 | October 2023 | $ 347.50 | $ 0.00 | 0.00 % |
| 6 | November 2023 | $ 255.66 | $ -91.84 | -35.92 % |
| 5 | December 2023 | $ 152.50 | $ -103.16 | -67.65 % |
| 4 | January 2024 | $ 152.50 | $ 0.00 | 0.00 % |
| 3 | February 2024 | $ 152.50 | $ 0.00 | 0.00 % |
| 2 | March 2024 | $ 152.50 | $ 0.00 | 0.00 % |
| 1 | April 2024 | $ 152.50 | $ 0.00 | 0.00 % |
Phosphate Rock Price Annual World Bank
Phosphate Rock Price in 2023 was 321.66 dollars per metric tonne estimated by the world bank.
In the previous year, 2022 Phosphate Rock Price was 266.16 dollars per metric tonne. The net change in Phosphate Rock Price in 2023 was 55.5 dollars which is about a 17.25% increase in price.
Source: World-bank
| 1960 | $ 13.00 | - | - |
| 1961 | $ 13.00 | $ 0.00 | 0.00 % |
| 1962 | $ 11.50 | $ -1.50 | -13.04 % |
| 1963 | $ 11.50 | $ 0.00 | 0.00 % |
| 1964 | $ 12.50 | $ 1.00 | 8.00 % |
| 1965 | $ 14.00 | $ 1.50 | 10.71 % |
| 1966 | $ 13.00 | $ -1.00 | -7.69 % |
| 1967 | $ 12.00 | $ -1.00 | -8.33 % |
| 1968 | $ 11.50 | $ -0.50 | -4.35 % |
| 1969 | $ 11.25 | $ -0.25 | -2.22 % |
| 1970 | $ 11.00 | $ -0.25 | -2.27 % |
| 1971 | $ 11.25 | $ 0.25 | 2.22 % |
| 1972 | $ 11.50 | $ 0.25 | 2.17 % |
| 1973 | $ 13.75 | $ 2.25 | 16.36 % |
| 1974 | $ 54.52 | $ 40.77 | 74.78 % |
| 1975 | $ 67.17 | $ 12.65 | 18.83 % |
| 1976 | $ 35.83 | $ -31.34 | -87.47 % |
| 1977 | $ 61.79 | $ 25.96 | 42.01 % |
| 1978 | $ 31.28 | $ -30.51 | -97.54 % |
| 1979 | $ 35.48 | $ 4.20 | 11.84 % |
| 1980 | $ 44.67 | $ 9.19 | 20.57 % |
| 1981 | $ 48.96 | $ 4.29 | 8.76 % |
| 1982 | $ 42.96 | $ -6.00 | -13.97 % |
| 1983 | $ 39.80 | $ -3.16 | -7.94 % |
| 1984 | $ 33.07 | $ -6.73 | -20.35 % |
| 1985 | $ 36.00 | $ 2.93 | 8.14 % |
| 1986 | $ 36.00 | $ 0.00 | 0.00 % |
| 1987 | $ 34.15 | $ -1.85 | -5.42 % |
| 1988 | $ 31.60 | $ -2.55 | -8.07 % |
| 1989 | $ 31.00 | $ -0.60 | -1.94 % |
| 1990 | $ 31.29 | $ 0.29 | 0.93 % |
| 1991 | $ 31.50 | $ 0.21 | 0.67 % |
| 1992 | $ 31.50 | $ 0.00 | 0.00 % |
| 1993 | $ 31.50 | $ 0.00 | 0.00 % |
| 1994 | $ 31.83 | $ 0.33 | 1.04 % |
| 1995 | $ 32.67 | $ 0.84 | 2.57 % |
| 1996 | $ 33.03 | $ 0.36 | 1.09 % |
| 1997 | $ 32.50 | $ -0.53 | -1.63 % |
| 1998 | $ 32.50 | $ 0.00 | 0.00 % |
| 1999 | $ 42.80 | $ 10.30 | 24.07 % |
| 2000 | $ 44.00 | $ 1.20 | 2.73 % |
| 2001 | $ 44.00 | $ 0.00 | 0.00 % |
| 2002 | $ 44.00 | $ 0.00 | 0.00 % |
| 2003 | $ 44.00 | $ 0.00 | 0.00 % |
| 2004 | $ 44.00 | $ 0.00 | 0.00 % |
| 2005 | $ 44.00 | $ 0.00 | 0.00 % |
| 2006 | $ 44.00 | $ 0.00 | 0.00 % |
| 2007 | $ 52.02 | $ 8.02 | 15.42 % |
| 2008 | $ 242.74 | $ 190.72 | 78.57 % |
| 2009 | $ 222.75 | $ -19.99 | -8.97 % |
| 2010 | $ 105.31 | $ -117.44 | -111.52 % |
| 2011 | $ 163.55 | $ 58.24 | 35.61 % |
| 2012 | $ 184.93 | $ 21.38 | 11.56 % |
| 2013 | $ 126.32 | $ -58.61 | -46.40 % |
| 2014 | $ 110.46 | $ -15.86 | -14.36 % |
| 2015 | $ 120.31 | $ 9.85 | 8.19 % |
| 2016 | $ 110.46 | $ -9.85 | -8.92 % |
| 2017 | $ 89.69 | $ -20.77 | -23.16 % |
| 2018 | $ 87.90 | $ -1.79 | -2.04 % |
| 2019 | $ 87.96 | $ 0.06 | 0.07 % |
| 2020 | $ 76.05 | $ -11.91 | -15.66 % |
| 2021 | $ 123.21 | $ 47.16 | 38.28 % |
| 2022 | $ 266.16 | $ 142.95 | 53.71 % |
| 2023 | $ 321.66 | $ 55.50 | 17.25 % |
Introduction
Phosphate rock, a valuable mineral used primarily in the production of fertilizers, plays a crucial role in global agriculture. We aim to provide a comprehensive understanding of the factors influencing phosphate rock prices and shed light on the current trends in the market.
1. Understanding Phosphate Rock
Phosphate rock, also known as phosphorite, is a sedimentary rock composed of minerals containing phosphate ions. It is primarily used in the production of fertilizers, providing essential nutrients to crops, such as phosphorous and nitrogen. The availability and price of phosphate rock have a significant impact on the cost of agricultural production worldwide.
2. Global Demand and Supply Dynamics
The global demand for phosphate rock is primarily driven by the agricultural sector, where it serves as a key ingredient in fertilizers. Developing countries with growing populations and increasing food demand play a substantial role in driving this demand. On the supply side, phosphate rock reserves are concentrated in a few regions, such as Morocco, China, and the United States. Geopolitical factors, mining regulations, and exploration efforts influence the availability and supply of phosphate rock.
3. Exploration and Mining
The exploration and mining processes are vital to the availability and subsequent pricing of phosphate rock. Geological surveys and advanced technologies aid in identifying potential phosphate rock deposits. Once identified, mining techniques are employed to extract the mineral from the earth. The efficiency and sustainability of mining operations impact the overall supply and, consequently, the prices of phosphate rock.
4. Quality and Chemical Composition
The quality and chemical composition of phosphate rock significantly affect its pricing. The concentration of phosphate content, impurities, and the presence of contaminants determine the value and usability of the mineral. Phosphate rock with higher phosphate content and lower impurities commands a higher price due to its superior fertilizing properties.
5. Environmental and Sustainability Concerns
The mining and processing of phosphate rock raise environmental and sustainability concerns. Issues such as habitat disruption, water pollution, and energy consumption are associated with phosphate mining. Sustainable mining practices and environmental regulations are crucial in addressing these concerns and ensuring the long-term availability of phosphate rock.
6. Market Influencers
Several key factors influence phosphate rock prices in the market. These include changes in agricultural practices, government policies and subsidies, weather conditions affecting crop yields, currency fluctuations, and the overall state of the global economy. Understanding these market influencers is essential for predicting and responding to fluctuations in phosphate rock prices.
7. Technological Advancements
Technological advancements in the fertilizer industry, such as innovative production methods and improved nutrient delivery systems, can impact phosphate rock prices. Enhancements in efficiency and effectiveness contribute to the overall value proposition of phosphate rock-based fertilizers, thus influencing market demand and pricing.
8. Emerging Trends
The phosphate rock market is subject to evolving trends that shape its pricing dynamics. One such trend is the increasing focus on sustainable and organic farming practices, which may impact the demand for conventional phosphate rock-based fertilizers. Additionally, the exploration and development of alternative phosphorus sources, such as phosphorus recovery from organic waste and wastewater, have the potential to influence future pricing trends.
9. Price Volatility and Risk Mitigation
Phosphate rock prices are subject to volatility due to various factors discussed earlier. To mitigate price risks, stakeholders in the agricultural sector employ strategies such as long-term supply contracts, diversification of phosphate sources, and proactive monitoring of market trends. Managing price risk is crucial for optimizing agricultural operations and ensuring stable fertilizer prices.
Conclusion
In conclusion, the pricing of phosphate rock is influenced by a multitude of factors, including global demand and supply dynamics, exploration and mining practices, quality and chemical composition, environmental concerns, market influencers, technological advancements, and emerging trends. Stakeholders in the agricultural industry must remain vigilant and adapt to these dynamics to make informed decisions and mitigate price risks.
