By: Justicia Shipena
Fertiliser prices are finally stabilising after continuous increases since 2022, according to the latest Food Price Monitor report by First Capital.
The Fertiliser Price Index has shown a consistent decline, signalling a stabilisation following the sharp price hikes experienced last year.
This stabilisation is attributed to improved supply conditions, reduced demand, and other market adjustments.
As a result, agricultural producers may begin to feel relief from the high input costs that characterised the peak price periods.
First Capital noted that this trend is positive for the agricultural sector, as it could lead to lower production costs and improved profitability for farmers.
Between January 2023 and June 2024, fertiliser prices steadily decreased, reflecting stabilisation after the surges in 2022.
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