NPKs
Overview
The global market for compound NPKs is one of the most important and dynamic markets in the fertilizer sector. Greater agricultural sophistication is bringing an increasing variety of grades to the market. Producers are also striving to move from commodity grades, such as 15-15-15, to more specific formulations (often tailored to specific customer needs) to increase nutrient-use efficiency and capture market share.
The impact of the Russia-Ukraine conflict has also seen major shifts in trade flows, given Russia’s significant compound-NPK capacity, and Russian-origin product has long been seen as a benchmark for high-quality NPKs.
Argus has decades of experience covering the NPKs market. We incorporate our multi-commodity market expertise in key areas including nitrogen, phosphates, potash and sulphur to provide the full market narrative.
Argus support market participants with:
- Argus NPKs: Weekly NPKs price assessments, proprietary data and market commentary
- Argus NPK Analytics: Medium to long-term analysis and outlook, including proprietary data
- Bespoke NPKs consulting project support
Latest NPKs news
Browse the latest market moving news on the global NPKs industry.
No offers under India’s NFL buy tender for NPKs
No offers under India’s NFL buy tender for NPKs
London, 9 June (Argus) — Indian fertilizer importer NFL has not received any offers under its tender to its MOU suppliers to buy up to 50,000t each of NPK grades 10-26-26 and 12-32-16. The tender closed on 9 June and requested 25,000-50,000t of 10-26-26 for delivery to India's east coast and a same-sized supply of 12-32-16 to the country's west coast. The shipments had to depart by 31 July under the tender's conditions. The lack of offers for NPS/NPKs probably reflects a lack of global supply, particularly from China, where suppliers have suspended export offers for NP and NPS. Argus understands that the customs inspection for these grades was halted on 26 May . Indian importer IPL bought 20-20-0+13S NPS with the price rising by around $12/t in the latest business from Saudi producer Ma'aden for June shipment. Meanwhile, fellow Indian firm FACT has extended the closing date of its tender to buy up to 50,000t of NPS 20-20-0+13S to 16 June from 9 June. By Elena Mataro Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Polish fertilizer output falls to 10-month low in April
Polish fertilizer output falls to 10-month low in April
London, 27 May (Argus) — Polish fertilizer production fell to its lowest monthly level in 10 months in April on the back of low nitrogen production, figures released by statistics office GUS show. Nitrogen, phosphate and potash output on a nutrient basis reached a combined 181,500t in April, a decline by 4pc on the year and by 19pc on the month, according to GUS data. Despite the weak April, overall year-to-date nutrient volumes remained 8pc up on the year at 809,000t. In April the decline in output was mainly caused by a slump in nitrogen production, which fell by 12pc on the year and by 19pc on the month to 136,600t. Two nitrogen plants, Anwil's Wloclawek and Grupa Azoty's Tarnow plant, reported outages in April, with the Anwil outage continuing until 20 May. Anwil's parent company Orlen said last week its expansion of Anwil's nitrogen production capacity by 40pc — about 495,000t/yr — to a total of nearly 1.5mn t/yr has not yet been commissioned, with the start of full capacity currently expected in summer this year. Grupa Azoty, Poland's largest fertilizer manufacturer, continues to have parts of its operations affected by shutdowns, according to its Remit notices issued within the EU's market transparency regulations. The company's NPK-specialist plant in Police in northwest Poland is undergoing a "balancing shutdown", reducing its capacity by about one third from 10 May until the end of this month. Azoty's plant in Tarnow, which has been operating at a reduced rate for several months, will fully shut its production for planned maintenance in the first three weeks of June. And Azoty's plant I Kedzierzyn is planning a maintenance shutdown between 24 August and 18 September. By Tomasz Stepien Polish fertilizer output (per nutrient) Apr-25 ±% April -24 Nitrogen 137 -12 Phosphate 20 -3 Potash 25 73 Source: Gus Poland fertilizer output.pdf Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
China's NP/NPS exports hit record high in January-March
China's NP/NPS exports hit record high in January-March
Singapore, 28 April (Argus) — China's NP/NPS exports jumped by more than eightfold to an all-time high of about 614,000t over January-March, latest trade data show, as it is a more affordable alternative to DAP/MAP, given tighter phosphate export availability and higher fertilizer prices globally. This was largely driven by record-high shipments to Brazil and India in the first quarter, both of which did not receive any NP/NPS exports a year earlier. Shipments to Brazil and India reached 315,000t and 94,000t respectively in January-March. China exported more formulas, including NP 8-40-0, to Brazil so far this year as a lower-priced alternative to MAP, given higher fertilizer prices in Brazil. Indian importers are also seeking more NPKs and NPS, such as 20-20-0+13S, because of a lack of DAP fertilizer supply out of China. Such imports into India also allow the importer to maintain a positive margin under the current subsidy and maximum retail price, as compared to importing DAP. China's NPK exports over January-March also nearly tripled from a year earlier to 169,000t, which is also a four-year high, largely driven by an eightfold increase in shipments to the Philippines, its largest importer at about 63,000t. Favourable weather conditions this year led to more local rice production, according to the Philippines' Department of Agriculture, likely contributing to an increase in demand for complex fertilizers. The El Niño phenomenon hit the Philippines in the first quarter of 2024, when prolonged periods of dry spells damaged about 780,000 hectares of crops across 271,000t of agricultural land, which likely affected fertilizer demand and affordability last year. Lower prices of 16-20 from China in the first quarter compared to a year earlier, according to Argus , also likely boosted affordability levels. Some Chinese DAP producers have switched their production line to producing NP/NPS to cater to the growing demand from overseas buyers, alongside the end of the domestic spring season and slowing domestic demand for DAP. The lack of clarity on DAP/MAP exports also supported Chinese phosphate producers in pivoting to more NP/NPS exports . Exports availability of phosphates may reduce shipments of NP/NPS in favour of DAP/MAP. Suppliers are also expecting more demand from Brazil this year, according to market participants, as China is likely to import more soybeans from Brazil in light of recent tariffs imposed on US imports. Firm DAP prices in India are also likely to continue pushing Indian importers to buy more NP/NPS. Importers in India have cancelled at least three sales of DAP above $690/t cfr from Russia and Tunisia. But there was no confirmation of the cancellations from the suppliers. By Camila Tay China NP/NPS exports 2024 (t) Brazil India Australia Vietnam Others Total January 60,600 26,500 38,196 16,219 10,514 152,029 February 129,553 0 12,520 13,993 68,689 224,755 March 124,680 67,900 0 15,481 29,524 237,585 Total 314,833 94,400 50,716 45,693 108,727 614,369 Source: GTT China NPK exports 2024 (t) Philippines Myanmar Laos Australia Others Total January 24,064 8,654 8,977 832 23,449 65,976 February 3,168 12,080 2,628 286 18,916 37,078 March 35,640 10,744 2,009 15,481 2,315 66,189 Total 62,872 31,478 13,614 16,599 44,680 169,243 Source: GTT Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Norway’s Yara fertilizer output, deliveries rise in 1Q
Norway’s Yara fertilizer output, deliveries rise in 1Q
London, 25 April (Argus) — Norwegian fertilizer producer Yara posted an increase in its output, earnings and deliveries in January-March compared with the previous year. Yara's finished-fertilizer output in the first quarter rose to 4.9mn t, up by 6pc on the year, driven by increased demand. Yara's financial year runs from January to December. Yara's first-quarter urea production stood at just over 1.1mn t, down by 5pc on the year, while nitrate output jumped to 1.48mn t, up by 19pc on the year. First-quarter NPK output also rose to 1.59mn t, up by 7pc on the year. Its ammonia output in the quarter stood at 1.72mn t, marking a slight 1pc decline from the 1.74mn t produced a year earlier. Yara's first-quarter fertilizer deliveries rose to 5.8mn t, up by 10pc on the year, mainly driven by Europe and Brazil. Its first-quarter earnings before interest, taxation, depreciation and amortisation (Ebitda), excluding special items, stood at $638mn, a jump of 47pc from a year ago, owing to increased deliveries, mainly driven by Europe and Brazil, higher margins and reduced fixed costs. US tariffs limit impact on urea markets Although the geopolitical landscape is shifting rapidly, the US tariffs announced in April have had a "limited impact on the global urea markets so far but could lead to altering trade flows", according to Yara. The producer's imports into the US are limited and represent less than 5pc of consolidated revenues and delivered volumes, it said. Yara said that it is prioritising higher-return core assets and is therefore targeting a reduction of fixed cost and capex of $150mn by the end of 2025. The producer said that it is on track to ensure that the fixed cost run-rate inflation of $2.38bn pre-2026 will be achieved. Yara expects to see a tightening global supply balance in the future as industry projections for supply growth for 2025 onwards are significantly below trend consumption growth. "Combined with strong demand fundamentals, this indicates a tightening global supply/demand balance in the coming years, improving European production margins as gas prices are expected to be lower," Yara said. But China's export policy remains a key uncertainty, especially for the short-term global supply/demand balance. By Suzie Skipper Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Argus Fertilizer Market Highlights
The complimentary Argus Fertilizer Market Highlights package includes:
• Bi-weekly Fertilizer Newsletter
• Monthly Market Update Video
• Bi-monthly Fertilizer Focus Magazine
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Explore our NPKs products
Region and country focused market intelligence
