Urea prices fell 34.4 per cent in June as fertilizer flows through the Strait of Hormuz picked up considerably, while phosphate and potash climbed to 12-month highs, according to the AMIS Market Monitor for July 2026. Ocean freight also cooled, with the Baltic Dry Index down 21.7 per cent on the month, though it remains 69.5 per cent higher than a year ago.
The July Monitor, released by the FAO-hosted Agricultural Market Information System, tracks how fertilizer prices and shipping costs are rebalancing after the Iran-United States memorandum of understanding reopened the region’s key shipping chokepoint.
