Source: Manila Bulletin
Record level fertilizer prices set in October 2008 now have dropped, with some estimates at 60 percent lower. However, farmers are expected to apply more fertilizer this spring to make up for decreasing their applications last year.
Allendale Inc. and Informa Economics, two closely watched analytical firms, have both forecast crops to increase beyond the already record-large size of the 2009/10 crops. The U.S. Agriculture Department will release its first acreage projection on March 31.