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
- Bespoke NPKs consulting project support
Latest NPKs news
Browse the latest market moving news on the global NPKs industry.
Indian NPK/NP imports hit record in December, stocks up
Indian NPK/NP imports hit record in December, stocks up
London, 19 January (Argus) — Indian imports of NPKs and NP fertilizers in December 2025 hit a 14-year high, helping to drive inventories up by 327,400t, government data show. Imports totalled 577,000t, up from 118,000t in December last year and the highest since November 2011, Argus ' records show. India produced almost 1.12mn t of NPK and NP fertilizers last month, up by nearly 8pc year-on-year. Sales were broadly steady at 1.36mn t, inching down by less than 1pc from December 2024 at just below 1.36mn t. The stockbuild — production plus imports minus sales — was 327,400t for December. Indian total stocks of NPKs and NPs stood at 4.5mn on 1 January, Argus estimates. Cumulative production reached nearly 9.27mn t in the first nine months of the April-March 2025-26 fertilizer year, a 13pc increase from the same period last year. Imports totalled 3.30mn t, up by 122pc, while sales hit 11.74mn t, up from 11.72mn t last year. By Elena Mataro Indian NPK stocks, production, imports and sales Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Romgaz still open to buy ferts producer Azmoures
Romgaz still open to buy ferts producer Azmoures
London, 14 January (Argus) — Romanian state-owned natural gas company Romgaz remains interested in acquiring fertilizer producer Azomures, but will consider investing in other Romanian fertilizer projects. Romgaz has made an offer for the company and remains "open to an honest and coherent dialogue" concerning an acquisition, the company said today. Azomures said earlier this week that it was mothballing production after negotiations with Romgaz stalled. Azomures has not produced fertilizer since August 2024 , barring small-scale production in the second half of last year . The company, currently owned by Switzerland-based trading firm Ameropa, can produce up to 1.6mn t/yr of NPK and nitrogen fertilizers, and consumes around 1bn m³/yr of gas when operating at full capacity. Around three-quarters of its production is sold on the Romanian domestic market. Romgaz first expressed interest in Azomures in February and an acquisition was presented as the best solution for Romanian farmers. By Aidan Hall Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Romania’s Azomures mothballs ferts production
Romania’s Azomures mothballs ferts production
London, 12 January (Argus) — Romanian fertilizer producer Azomures has today mothballed its production facilities after efforts by state-owned natural gas company Romgaz to acquire the firm stalled. Azomures will temporarily terminate the employment of 600 workers and suspend all major plant maintenance. But production facilities remain ready to restart when conditions are deemed "economically feasible". Azomures has not produced fertilizer since August 2024 , barring small-scale production in the second half of last year . The company, currently owned by Switzerland-based trading firm Ameropa, can produce up to 1.6mn t/yr of NPK and nitrogen fertilizers, and consumes around 1bn m³/yr of gas when operating at full capacity. Around three-quarters of its production is sold on the Romanian domestic market. Romgaz first expressed interest in Azomures in February and an acquisition was presented as the best solution for Romanian farmers. But negotiations between the two parties stalled this week after Romgaz failed to submit an offer and acquisition timeline. By Aidan Hall Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Global fertilizer affordability recovers some ground
Global fertilizer affordability recovers some ground
London, 19 November (Argus) — Global fertilizer affordability remains weak at levels similar to those of September 2022, but has recovered slightly from a more than three-year low in August because of a fall in fertilizer prices. Nutrient affordability stood at 0.72 points in October, up from 0.69 in September and 0.61 in August, when it dropped to its lowest since April 2022, Argus data show. Global fertilizer affordability had been on a downward trend since January. An affordability index — comprising a fertilizer and crop index — above one indicates that fertilizers are more affordable compared with the base year set in 2004. An index below one indicates lower nutrient affordability. The fertilizer index in October crept up to just below June's levels at 0.74 points, driven by falling urea, phosphates and potash prices. But the crop index — which includes global prices for corn, wheat, rice and soybeans adjusted by output volumes — resumed its downward trend in October, having gained some ground in September, and crop prices are now as low as those of November 2019. Urea price falls were the heaviest in recent months, with fob Middle East prices in October down by over $100/t from recent highs in August, when they averaged just over $500/t fob. Prices fell as buyers hesitated in the face of renewed Chinese exports, which outweighed strong import demand from India. Most market participants remained cautious into October, largely because of the lack of clarity on potential fresh exports from China. But prices received support from the end of October onwards, driven by a flurry of buying in Europe ahead of the implementation of the EU's Carbon Border Adjustment Mechanism on 1 January. Phosphate prices began to decline earlier. Moroccan DAP export prices have now shed $93/t at the midpoint from a peak in early August averaging just under $800/t fob, their highest since October 2022. The seasonal decline in global demand going into the fourth quarter coupled with higher DAP inventories in key destination markets — notably India — and wide-ranging affordability concerns pressured prices. Brazilian buyers turned to more affordable NPs and superphosphates ahead of soybean applications, fostering a surplus of MAP that similarly weighed on prices. Potash prices have experienced a milder decline, dropping by only $6/t since hitting a 28-month high in August at $314/t. MOP demand has slowed in most major importing markets since July, with ample inventories likely to be able to cover the majority of demand for the rest of 2025. By Elena Mataro Global fertilizer affordability index Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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