Bangkok: Suriya indicates that the global fertilizer price crisis is beginning to ease after tensions in the Middle East decreased. The Minister of Agriculture revealed that the global fertilizer price situation is beginning to ease following the reduction in tensions in the Middle East. This has resulted in a decrease in the global market price of urea from approximately US$800 per ton to US$400 per ton. This is expected to alleviate the burden of cultivation costs for Thai farmers. The Minister also confirmed that domestic fertilizer supplies remain sufficient and there will be no shortage.
According to Thai News Agency, Mr. Suriya Jungrungreangkit, Minister of Agriculture and Cooperatives, revealed that the Ministry of Agriculture and Cooperatives has been closely monitoring the situation regarding agricultural production inputs, especially chemical fertilizers, which are a significant cost for farmers. He recently received a report from Mr. Rapeephat Chantarasriwong, Director-General of the Department of Agriculture, stating that the easing of conflict in the Middle East has resulted in a significant decrease in the global market price of urea fertilizer, from approximately US$800 per ton to around US$400 per ton. This is a positive sign expected to reduce fertilizer import costs and consequently lower cultivation costs for Thai farmers in the long term.
Meanwhile, the Department of Agriculture reported that the domestic fertilizer situation remains normal, with sufficient quantities to meet demand and no shortages observed. The Ministry of Agriculture and Cooperatives continues to monitor the situation closely to prevent any negative impact on farmers and the country's production sector.
Mr. Suriya stated that the Ministry of Agriculture and Cooperatives continues to implement measures to reduce production costs for farmers by promoting the use of chemical fertilizers in conjunction with organic fertilizers and bio-products. This aims to reduce reliance on imported fertilizers. Previously, farmers used over 6 million tons of chemical fertilizers per year; the goal is to adjust the ratio to 70% chemical fertilizers and 30% organic fertilizers and bio-products. Furthermore, the Ministry, in collaboration with the Ministry of Higher Education, Science, Research and Innovation (MHESI), supports soil quality analysis before fertilizer application, enabling farmers to select fertilizer formulas appropriate to their specific conditions and crop needs. The Ministry also promotes the use of innovative fertilizer mixing machines, which improve fertilizer efficiency, reduce production costs, and effectively increase agricultural yields. The Minister of Agriculture and Cooperatives added that the decreas e in global fertilizer prices is a positive factor for Thai agriculture, particularly during the planting season, which will alleviate production costs and strengthen national food security in the long term.