Argus, a global commodity pricing agency, has signed a collaboration agreement with the International Fertilizer Development Center (IFDC) that will improve access to information in the African fertilizer sector, which has traditionally been opaque and complex.
Africa is home to 17% of the global population but consumes only 2–3% of the world's fertilizer supply. Fertilizer use varies greatly across the continent but can be as low as 10 kg of nutrient/ha., compared with an average of roughly 100kg/ha. in developed countries.
The IFDC focuses on increasing and sustaining food security and agricultural productivity in over 20 developing countries, primarily in Africa. The organisation will carry key fertilizer price information provided by Argus, on the AfricaFertilizer.org website. The prices will include international benchmarks for NPK blends, urea, ammonia, processed phosphates and ammonium sulphate.
All price information and market commentary provided by Argus will be freely available for anyone to view.
Argus has over 30 fertilizer experts operating internationally across 8 locations. It produces a range of services covering all aspects of fertilizer markets, including price reports, forecasts and in-depth studies. IFDC and Argus will also work together on industry events, such as Argus' portfolio of 12 international fertilizer conferences.
Argus chairman and chief executive Adrian Binks commented: "Africa is key to growth in international fertilizer markets. With usage much lower than elsewhere, there is considerable opportunity to expand, which would increase crop yields. We are glad to be formalising our long-standing relationship with IFDC to make fertilizer pricing more transparent."
"Argus is a global leader in fertilizer price and related information, and IFDC has years of on-the-ground expertise in input markets in Africa and Asia," IFDC president and chief executive Albin Hubscher said. "We are delighted that this agreement will enable us to share key data and analysis with our stakeholders. We expect that this will help our mission to improve soil fertility and crop nutrition in developing countries around the world."
Source from: World Fertilizer