Global fertilizer demand to grow - IFA

20 February 2008 05:19  [Source: ICIS news]

SHANGHAI (ICIS news)--International fertilizer demand is estimated to increase by an annual rate of 3.9% to hit 170m tonnes in the period from July 2007 to June 2008, an industry body said on Wednesday.

The International Fertilizer Industry Association (IFA) said increasing global demand for agricultural products has been promoting fertilizer consumption in Asia and America.

Two thirds of the fertilizers were used in East Asia and North America during 2006-2007.

Fertilizer demand will continue to grow by 3.9% year on year to 170m tonnes during 2007-2008, driven by international demand, IFA said, adding that growth rates for potash, phosphate and nitrogenous fertilizers are 8.4%, 3.8% and 2.7% respectively.

Latin America is expected to show the fastest growth at 11.5%, followed by South Asia at 6.6% and East Asia at 4.1% in the period from July 2007 to June 2008.

Global fertilizer demand is expected to expand steadily to reach 176 m tonnes during next period from 2008 to 2009, it added.

By: Dolly Wu
+65 6780 4359

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