Demand for fertiliser is steadily increasing in response to supportive agricultural market fundamentals, the International Fertilizer Industry Association (IFA) revealed in its Medium-Term Fertilizer Outlook 2012-2016.
It also pointed out that expansion of supply is still delayed because of schedule slippages for about half of projects in development worldwide.
Global fertiliser demand is projected to increase by 2.8% in 2011/12 and by another 2.5% to 181.4m tonnes nutrients (nitrogen, phosphate and potassium, NPK) in 2012/13, according to the France-based association.
| Potash stockpile at Urakali''s facility in Berezniki, Russia|
By 2016/17, it is expected to reach 193m tonnes, corresponding to a compound annual growth rate of 2.1% over the average of the 2009/10 to 2011/12 campaigns.
When compared to 2007/08 the last campaign before the economic downturn world fertiliser demand is anticipated...