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Article: AXcess News: Fertilizer Demand in US Expected to Rise Thanks to Ethanol.
- Article from:
- Business Wire
- Article date:
- March 16, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON -- Corn prices are at record highs thanks to the boom in ethanol production and this spring U.S. farmers are expected to plant record corn acreage but with it comes higher fertilizer costs which is expected to increase until production catches up with demand.
Already prices for urea and two types of ammoniated phosphate known as MAP and DAP have risen by up to $80 a ton.
Nick Drew from the Fertilizer Industry Federation of Australia says U.S. growers are continuing to increase their fertilizer use as they expand corn plantings to supply ethanol plants.
But he says it is not clear how much higher prices will go.
"It's a brave man ...