Urea ammonium’s price is currently low compared to the previous year’s market however, these are the factors that will affect the price of urea ammonium in 2030:
1. Global demand for food
Worldometers' prediction showed that the global population will increase by 0.82% in 2030.
This means that another need will put a strain on world food production. Urea ammonium is a key fertilizer used to increase crop yields, thus, the demand for it is likely to grow in the coming years.
2. Fluctuations in energy prices
Since the production of urea ammonium requires a lot of energy, then, its price will always be sensitive to changes in energy prices.
3. Government policies
Governments often subsidize the production of fertilizers to make them more affordable for farmers. If these subsidies are reduced or eliminated, the price of urea ammonium could increase.
Overall, based on these future and current factors, most experts believe that the price will remain relatively stable or increase slightly.
According to a recent report by Profercy, the average price of urea ammonium in 2030 is expected to be around $300 per metric ton, slightly higher than the current price of around $280 per metric ton.