2024-01-29 IFA estimate of global short-term fertilizer consumption

The recently published International Fertilizer Manufacturers Association (IFA) report “Short-Term Fertilizer Outlook 2023-2024” collects information on the global short-term fertilizer market. According to IFA estimates, global demand for nutrients in the 2023/24 fertilizer year will be 109.7 million tons of N (increasing by 2 percent compared to the previous year), 46.2 million tons of P2O5 (+3 percent) and 35, 6 million tons of K2O (+3 percent). This represents a total demand of 191.5 million tons of nutrients (N+P2O5+K2O), which would increase to 195.4 million in the 2024/25 fertilizer year (with an increase in consumption of 2 percent compared to 2023/24).

Link to report “Short-Term Fertilizer Outlook 2023-2024": https://www.ifastat.org/market-outlooks