Category: Highlights

Overall market risk: With the rains fully established in most West African countries, the farming season and fertilizer markets are once again vibrant, marked by an observable increase in demand. However, despite this recent uptick, the current demand still falls short of previous years when compared to the same time frame. The primary factor driving this reduced demand is the increased cost of fertilizer products month on month, which has impacted affordability. The price increase varies from country to country, particularly in private sector dominated markets. Additionally, currency devaluation has exacerbated the situation. Whilst prices may not have increased significantly in dollar terms, they have risen in local currencies from country to country. Despite these challenges, fertilizer products have been relatively available across West Africa, with no reports of scarcity, even in countries that experienced political instability such as coups d’état. Overall, there has been an adequate supply to meet the rising demand despite the price challenges.

Benin: The Beninese authorities have assured stakeholders that stocks of Urea, NPK and SSP are in line with initial forecasts, and that supplies are being delivered throughout the country. However, they are concerned about the fraudulent export of subsidized fertilizers out of the country, following reports that some agricultural players are involved in these illegal practices.

Cote d’Ivoire: In June, heavy rains increased planting activity, leading to a predictable rise in fertilizer demand. Importers responded by mobilizing stocks, resulting in 300,000 tons of fertilizer imported into Côte d’Ivoire, meeting 100% of forecasts based on the past five years’ average consumption. Continuous stock mobilization and declining international prices stabilized the market, ensuring supply met demand. Local prices in June were lower than in May, with urea at $35, NPK 0-23-19 at $33, and NPK 15-15-15 at $37 per 50 kg bag. In the cotton sector, official fertilizer prices are awaited, with current prices at $28 for urea and $30 for NPK. Overall, stable supply and falling prices-maintained market stability, meeting the rising demand due to the rainy season.

Ghana: Farmer registration continues, and fertilizer distribution is active across all regions, particularly in the south. The country has imported 291,032 MT of fertilizers, accounting for about 65% of the annual import target, indicating strong domestic demand for agricultural inputs. In June, most fertilizer prices slightly decreased compared to May, except for NPK 23-10-5, which saw a 1% increase. As of June 2024, most fertilizer prices have slightly decreased compared to May, except for NPK 23-10-5, which saw a marginal increase: Ammonium Sulphate: Decreased by 1% from GHS 292.00 to GHS 288.00, Urea: Dropped by 3% from GHS 433.08 to GHS 420.77, NPK 23-10-5: Increased by 1% from GHS 446.82 to GHS 450.71.

Liberia: This month, the agro-dealers face a medium market risk as farmers strive to optimize yields amid hopes for government subsidies on high fertilizer prices. Despite a recent average price drop of $5, stricter entry requirements enforced by customs and revenue authorities are complicating the movement of large fertilizer shipments within the country, aimed at funding agricultural incentives. Moreover, poor road conditions between Côte d’Ivoire and Liberia, and Guinea and Liberia, are contributing to higher fertilizer costs. As the main farming season progresses, fertilizers are accessible nationwide but remain prohibitively expensive for farmers due to both purchase costs and transportation expenses. The price this month is an average of 8,775 Liberian dollars (LD). Transactions largely occur in USD due to the high exchange rate of 1 USD to 195 LD, resulting in an increase of 1,275 LD in local currency prices compared to last month. Among major agrodealers, two reduced prices from 50 USD to 45 USD in June, while the third maintained a price of 40 USD, reflecting varying market strategies amidst current economic challenges.

Nigeria: Nigeria is currently experiencing heavy rainfall across most regions, particularly in the Northeast and Northwest, which has greatly boosted agricultural activities. Farmers are actively engaged in farming due to favorable weather conditions, leading to an increased demand for fertilizers nationwide as the rainy season progresses. To meet this demand, blending plants are scaling up production, especially for NPK fertilizers. Despite this, affordability remains a challenge for many farmers, limiting the volume they purchase. High fertilizer prices persist due to production costs, transportation expenses, and currency fluctuations. The retail market reflects growing competition among fertilizer brands, driven by farmers seeking quality products at affordable prices. In June, prices generally increased, influenced by rising demand, production costs, inflation, transportation expenses, and currency instability. However, there was a slight reduction in the ex-factory price of Urea towards the end of the month, which may stabilize or reduce prices in subsequent periods. The average retail prices of urea, NPK 15-15-15, and NPK 20-10-10 saw increases, reflecting economic pressures and an exchange rate of $1 to ₦1,490 in June 2024, up from ₦1,383 in May 2024.

Sierra Leone: In June 2024, fertilizer sales in Sierra Leone saw a notable uptick compared to the previous month, particularly in the Western Area and among key suppliers in the North. This increase coincides with the peak of the rainy season, facilitating favorable farming conditions across the country. Anticipated demand growth spans small and large-scale cash crop farmers in the North and South, as well as vegetable and rice growers nationwide. Prices for fertilizers vary regionally, with higher costs observed in the Western Area compared to the Northern province, where prices are notably lower. Sierra Leone relies entirely on imported mineral fertilizers, sourced from neighboring regions and further abroad, influencing pricing dynamics linked to import costs, transportation, and distribution logistics. Throughout June, fertilizer prices remained stable, with major importers maintaining consistent prices for Urea, NPK, and DAP fertilizers. However, price variations exist among importers, with Urea prices ranging from Nle 1,200 ($54) to Nle 1,500 ($69) per 50kg bag. Average prices per ton include Nle 26,000 ($1,097) for Urea, Nle 30,000 ($1,266) for NPK 15:15:15, and Nle 20,000 ($844) for DAP.

Togo: In June 2024, widespread rainfall across Togo has facilitated robust crop establishment activities, with distinct stages observed in different agro-ecological zones. Southern regions are experiencing full bloom, while the north witnesses sowing and emergence phases. To support the ongoing agricultural season, the government had originally planned for 85,000 tons of fertilizer but mobilized 113,596 tons by mid-June, surpassing expectations. Distribution favored the south with 94,882 tons and allocated 18,714 tons to the north. Demand for fertilizer surged from 6,054 tons in May to 20,910 tons in June, reflecting increasing agricultural activities expected to continue in the coming months. Subsidized fertilizer prices set two years ago remain unchanged, with urea and NPK 15-15-15 priced at $30 (18,000 FCFA) per 50kg bag for food crops, and $23 (14,000 FCFA) for cotton-specific blends like NPK 12-20-18 +5S +1B and urea. On the open market, NPK 4-2-2 with 63% organic matter is prevalent, also priced at $30 (18,000 FCFA) per 50kg bag.

Senegal: In June 2024, Senegal’s agricultural season commenced with efforts from both private and public sectors to procure fertilizers following subsidy price announcements by MASAE. However, delays in fertilizer distribution were reported in certain regions like Kolda, Tambacounda, and Kédougou, where popular varieties such as NPK 15-10-10 were unavailable, leaving only urea accessible in Ziguinchor. In the free market, a variety of fertilizers remained available with stable prices. Subsidized urea was priced at 10,000 CFA francs, contrasting with an average of 21,300 CFA francs in the open market. Various NPK blends like 6-20-10, 15-15-15, and 20-20-20 were priced at 16,500 FCFA (26.94 USD), 18,875 FCFA (30.82 USD), and 45,000 FCFA (73.48 USD) respectively for 25 kg and 50 kg bags. Additionally, sulphates such as copper, potash, and zinc were available primarily in 1 kg and 25 kg bags, used preventively against fungal attacks and to enhance crop productivity, priced between 10,500 FCFA (17.41 USD) and 70,000 FCFA (116.18 USD). Ministerial measures at the season’s onset-maintained market stability, setting transfer prices for mineral fertilizers and ensuring phosphate distribution at no cost. Liquid and solid organic fertilizers and amendments were also available at unit prices ranging from 1,000 to 1,500 CFA francs.

Availability and Affordability: West African fertilizer markets are showing mixed price trends as the planting season begins. While fertilizers are widely available, with moderate availability in Ghana and Benin, some countries are experiencing price increases due to heightened demand during the rainy season. In response, several governments are providing subsidies to help farmers cope with the high prices.

Distribution: Fertilizer importation, transportation, and logistics have proceeded smoothly across West Africa, with minimal disruptions or border restrictions noted in May. Substantial volumes of fertilizers were successfully transported through entry points and distributed to Mali and Burkina Faso. In Nigeria, logistical operations remain largely unhindered, except for the Northeast region, where security challenges pose transportation restrictions. The National Port Authority (NPA) plays a pivotal role in facilitating efficient logistical operations and expediting clearance processes for fertilizers across the West African region, contingent upon proper documentation.

Overall market risk: In West Africa, the onset of the rainy season has marked the beginning of planting seasons, leading farmers to actively engage in agricultural activities. This increased farming activity has significantly raised the demand for fertilizers, making them essential for boosting crop yields. Consequently, fertilizer sales in the region have surged, reflecting the heightened demand. The increased demand has driven up prices, in addition to the depreciation of some country’s currency making it more expensive for farmers to procure the necessary supplies for their crops. While certain regions are meeting fertilizer demand with ample stocks and stable prices, affordability has become an issue in other areas due to fluctuating exchange rates. Overall, there was adequate supply to meet the rising demand brought on by the rainy season, although prices varied by region.

Benin: The agricultural season has commenced with the arrival of the first rains, leading to increased fertilizer demand in the southern and central regions. Government subsidies have alleviated concerns about accessibility, with over 24 billion FCFA allocated to maintain lower fertilizer prices. Urea is now priced at $25 (15,000 FCFA) per 50 kg bag, and NPK at $28 (17,000 FCFA). Without these subsidies, farmers would have faced higher costs, with urea at $33 (19,500 FCFA) and NPK at $38 (22,500 FCFA). Despite the slow mobilization of stocks, with only 200,000 tonnes available, representing 67% of the forecast, authorities remain optimistic as they expect more shipments soon at the Autonomous Port of Cotonou.

Cote d’Ivoire: The main planting season has begun, marked by the first rains and the start of sowing, which has boosted fertilizer demand among farmers. Anticipating this increase in demand, importers have continued to build up stocks to meet it. In May, approximately 300,000 tonnes of fertilizers were imported into Côte d’Ivoire, according to customs data. Regarding prices, relative stability has been observed, with prices not exceeding $42 (25,000 FCFA) per 50 kg bag for all types of fertilizers. Concerning cotton, attention remains focused on the official announcement of fertilizer prices. In the meantime, current fertilizer prices are $28 (around 17,050 FCFA) for urea and $30 (around 18,100 FCFA) for NPK, providing some predictability for farmers.

Ghana: Despite an ample supply of fertilizers in the country, buyers have struggled to afford the costs due to the ongoing depreciation of the currency against the US dollar. Most fertilizer prices saw only a slight increase in May 2024 compared to previous prices. The Ministry of Food and Agriculture (MoFA) in Ghana has authorized two companies are expected to supply NPK and urea fertilizers on behalf of the World Bank. For the 2024 planting season, approximately 31,200 bags of 50 kg NPK and 14,000 bags of 50 kg urea fertilizer have been distributed to smallholder farmers in the northern region. This distribution is part of the EU, FAO, and GoG support for enhancing food security in the country.

Liberia: The demand for fertilizers and other farming inputs has surged during the rainy season as farmers aim to boost yields for this year’s farming season. However, there has been minimal or no government intervention regarding border regulations and subsidies to support farmers and facilitate business for agro-dealers. This lack of support has led agro-dealers to reduce their fertilizer prices compared to the stable prices in the last two months. Their strategy is to minimize profit margins while clearing old stock to make room for new supplies for the upcoming farming seasons. Currently, fertilizers are more readily available and priced lower than in previous months. This increased availability allows farmers to take advantage of the slight price reduction to purchase more for the current and upcoming months.

Nigeria: Fertilizer prices have fluctuated significantly due to the volatility in the dollar-to-naira exchange rate. Despite adequate availability of fertilizer products in the market, the primary challenge lies in their affordability, particularly for smallholder farmers. These farmers are finding it increasingly difficult to purchase the necessary fertilizers due to the high costs involved. The earlier optimism seen among farmers, when prices began to decrease in the previous month, has now been overshadowed by recent price hikes. This sudden price increase has dashed hopes and created frustration among farmers who were anticipating continued reduction or stability of fertilizer prices in the market. Fertilizer sales in May 2024 have been moderately high compared to April 2024.

Sierra Leone: May marks the second month of the rainy season, with temperatures leveling up for farming operations, which are generally kicking off. Accordingly, the fertilizer demand has gradually increased and is expected to continue rising throughout the wet season as farmers engage massively in cultivating numerous crops. During this period, fertilizer dealers across the country anticipate high demand from small-scale and large-scale cash crop farmers in the North and South, as well as from vegetable and rice farmers. Fertilizer prices are expected to remain stable or see a moderate increase in some regions due to the rising demand. However, prices are relatively irregular across the country, being generally lower in the Northern province compared to the Western Area, where prices remain higher.

Togo: The agricultural season began in May 2024, particularly in southern Togo, where planting is intensifying across all farms. In preparation for this season, the state had mobilized 103,250 tonnes of fertilizers in April. In May, an additional 2,718 tonnes were added, bringing the total to 105,968 tonnes of fertilizers, distributed across 230 dedicated stores throughout the country. Anticipating the resumption of agricultural activities, 86,628 tonnes of fertilizers out of the total were allocated to the southern region, while 19,341 tonnes were sent to the north. In addition to the volumes mobilized by the state, the private sector reported importing 7,250 tonnes of fertilizers. Although agricultural activities have resumed and the supply is sufficient, demand remains low, with only 6,054 tonnes reported as purchased in May.

Availability and Affordability: In May, there were no reports of fertilizer shortages across the region, as most countries indicated availability following the onset of the planting season. However, the fertilizer markets in West Africa are experiencing rising prices in some countries while in some other countries, prices seem stable. This price increase is driven by the heightened demand due to the ongoing rainy season. In response to these rising costs, some governments are intervening by providing subsidies to mitigate the impact on farmers. Despite these efforts, high prices remain a significant concern. Many farmers have expressed worries that the high prices are limiting their ability to purchase the required quantities of fertilizer needed for their crops.

Distribution: The importation, transport, and logistics of fertilizers have generally occurred without disruption or restrictions at the borders and within most countries in West Africa. In May, significant volumes of fertilizers were successfully transported through entry points and distributed to Mali and Burkina Faso. Most places in Nigeria face no restrictions, except for the Northeast region, where security issues restrict transportation. The National Port Authority (NPA) plays a crucial role, in ensuring efficient logistical arrangements and quick clearance times for fertilizers with proper documentation in the West Africa region.

Overall market risk: In West Africa, the onset of planting seasons marks a promising start, expected to drive increased demand among farmers. Despite this positive outlook, high price concerns persist across the region (even though they are not as high as it was in 2022/2023), prompting some countries to implement subsidies aimed at alleviating the burden on farmers. Despite efforts to mitigate pricing challenges, the availability of stocks remains notably robust. Encouragingly, no reports have surfaced of scarcity or unavailability of products in any West African country, underscoring a generally stable supply chain.

Benin: The Beninese government has maintained subsidies on fertilizers following a price increase by the cotton company. Over 24 billion FCFA has been allocated for this purpose, ensuring stable prices for urea and NPK fertilizers for the 2024-2025 farming season. Without these subsidies, access to fertilizers for low-income farmers would have been jeopardized, impacting production and national food security. Planting activities have begun in various regions, driven by the onset of the rainy season. Suppliers have increased their stock to meet growing demand, with an estimated 100,000 tons of urea available in the market. Additionally, the Ministry of Agriculture has received a shipment of 45,000 tonnes of NPK fertilizers, with more expected soon at the Autonomous Port of Cotonou.

Cote d’Ivoire: The Ivorian fertilizer market is well-supplied due to consistent efforts by importers, with over 200,000 tonnes available by the first quarter of 2024, in addition to the existing 100,000 tonnes stocked in December 2023. This ample supply meets the average consumption over the past five years, indicating sufficient provision for the current agricultural season. Rising demand from farmers, content with current prices lower than those in the previous year, suggests a potential increase in fertilizer demand for the 2024 crop year. Prices have remained relatively stable between March and April 2024, not exceeding $42 (or 25,000 FCFA) per 50 kg bag for all fertilizer types combined. The cotton sector procured 146,400 tons of fertilizer for the 2024 agricultural season in October 2023, slightly less than the previous year. Current prices stand at $28 (approximately 17,050 FCFA) for urea and $30 (around 18,100 FCFA) for NPK fertilizers, pending finalization for the 2024 season.

Ghana: In April, fertilizer prices remained relatively stable compared to March prices. Moroccan 15-15-15 fertilizer is currently priced at $520 per ton ex-works, with indications that this rate is part of a relief program. Awards for the tender issued by the World Bank for Ghana’s Ministry of Food and Agriculture (MoFA) are pending. AGRA, in collaboration with Ghana’s MoFA’s PPRSD, and with backing from USAID and IFDC, has officially delivered the country’s Inorganic Bulk Blending Fertilizer Guidelines to the government.

Liberia: In specific regions of Liberia, the onset of the rainy season has sparked a surge in fertilizer demand among farmers preparing their land for planting, with expectations of continued growth as rainfall becomes more consistent. In April, the fertilizer market presented varied outcomes for different agro-dealers. Agro-dealers adjusted stocking levels in anticipation of higher sales, ensuring adequate supply to meet farmers’ needs nationwide from April into May. Despite government’s lack of subsidy consideration resulting in consistently high fertilizer prices, dealers have implemented measures to sustain their businesses.

Nigeria: is experiencing the onset of the rainy season, driving increased demand for fertilizer in the Southern and North Central regions as farmers prepare for planting. Urea fertilizer prices show a slight decrease, while NPK prices remain relatively stable. Overall, fertilizer products are readily available, supported by ample raw materials for blending, totaling over 449,485.25 metric tons.

Senegal: In April 2024, fertilizers tailored for off-season use continue to be in high demand, with varying availability across the market. Both subsidized and open-market products are accessible, ensuring farmers have what they need for the season, thereby promoting agricultural productivity nationwide. The government’s ongoing efforts to facilitate access to agricultural inputs contribute to competitive market prices while ensuring accessibility, thus supporting agricultural productivity and food security. Analysis of fertilizer prices in different cities reveals significant diversity in both available types and costs. Prices for widely used urea range from 12,500 to 30,000 CFA francs (about $21 to $50) per 50 kg bag, with higher prices observed in northern regions. NPK formulations, including NPK 6-20-10, NPK 15-15-15, and NPK 20-20-20, also vary in price, from 13,000 CFA francs in the southern region of Bignona to 45,000 CFA francs (about $75) in the north in Saint Louis. Despite minor fluctuations, overall fertilizer prices remain relatively stable compared to the previous month, reflecting diverse market needs and product availability across the country.

Sierra Leone: From the end of March to late April 2024, Sierra Leone’s official inflation rate has remained steady at 42.59%, a slight decrease from February’s 47.42%. Throughout April, the exchange rate held stable at Nle 22.5561/$, resulting in overall market price stability. Fertilizer demand remained relatively low as the dry season persisted, with the wet season expected to commence in mid-April, signaling the start of farming activities and a gradual increase in fertilizer demand. However, the slow onset of the rainy season in April led to moderate fertilizer demand nationwide, keeping prices unchanged at retail levels. As farming activities ramp up in late April or early May, it is anticipated that fertilizer demand will rise, potentially driving up prices. The unevenness of fertilizer prices persists across the country, with the Northern province experiencing relatively lower prices compared to the Western Area, averaging 20% less. Diammonium Phosphate prices remain high in the Western Area but notably cheaper in the North and South. Despite availability across Sierra Leone, fertilizer prices are primarily determined by import costs, with factors such as proximity to the Port of Freetown and neighboring Guinea influencing regional distribution.

Togo: In April, Togo experienced a surplus of fertilizer due to the government’s mobilization efforts under the subsidy program. Over 100,000 tons of fertilizer, including urea and NPK 15-15-15, were allocated, surpassing agricultural season forecasts by 100%. With 96,000 tons stocked in designated stores across the country, the private sector also imported additional fertilizer. Despite low demand caused by erratic rainfall, purchases are expected to rise gradually as agricultural activities resume. Subsidized fertilizer prices have remained stable, with urea and NPK 15-15-15 priced at $30 per 50 kg bag, while NPK 12-20-18 +5S +1B is priced at $23 per 50 kg bag. On the open market, NPK 4-2-2 is available at $30 per 50 kg bag.

Availability and Affordability: In April, the fertilizer markets across West Africa exhibit varied pricing patterns at retail outlets. Prices have generally remained steady, although some farmers express concerns about affordability hindering their purchasing capacity. Despite affordability challenges in certain countries, the overall availability of fertilizers remains steady, with no notable reports of shortages. This mixed pricing trend is anticipated to persist into the upcoming year.

Distribution: Fertilizer distribution in West Africa is gradually returning to normalcy, marking a positive shift as the impact of the Russia-Ukraine conflict diminishes. Most fertilizer ports and border crossings are now operational, indicating improved conditions across the region. Despite ongoing security challenges in Nigeria’s northeastern region, there is optimism with the lifting of various sanctions in Niger by ECOWAS. Landlocked nations like Mali and Burkina Faso have demonstrated resilience by utilizing ports in Cote d’Ivoire for fertilizer imports, ensuring a consistent supply chain. This adaptability highlights the agricultural sector’s ability to effectively navigate obstacles. Overall, the stabilization of distribution channels in the region bodes well for agricultural resilience and sustainable growth. While localized challenges persist, projections suggest stability and continuity in the vital fertilizer supply chain across West Africa.

Overall market risk: In West Africa, farmers in various countries are gearing up for the farming season as the onset of rain marks the beginning of agricultural activities. While fertilizer demand is expected to pick up as the season progresses, there has been a slight improvement in demand so far. Overall, there has been relative stability in fertilizer prices across the region, with some countries even experiencing a decrease in costs. However, Nigeria stands out with continuous price increases attributed to the local devaluation of the national currency. As of now, there are no reports of fertilizer scarcity in any West African countries. On the contrary, continuous fertilizer supplies and stocking are being reported, leading to a slight decrease in product costs in some areas. Moreover, there is smooth movement and supply of fertilizers across borders within the West African region.

Benin: In March 2024, Benin witnessed significant changes in the sale conditions of NPK 13-17-17 and NPK 14-18-18 fertilizers initiated by the cotton company, the primary mineral fertilizer supplier. These changes include limiting fertilizer allocation for food crops, requiring detailed farmer information for purchase validation, and a substantial 61% price increase for NPK 13-17-17 and NPK 14-18-18, now priced at $37 per 50 kg bag. This rise in prices has raised concerns among farmers regarding restricted access to fertilizers. Despite rising fertilizer demand due to the rainy season and agricultural preparations, these measures could potentially dampen demand, impacting crop yields and agricultural productivity, especially in central and southern regions. Although there is sufficient urea supply, the NPK stock covers only 37.5% of the expected quantity needed for the season, estimated at 120,000 tonnes for cotton and food crops. Additionally, limited availability of SSP fertilizer in shops reflects farmers’ unfamiliarity with its application.

Cote d’Ivoire: The Ivorian fertilizer market remains strong, supported by continuous supply from major importers, with about 80,000 tons of fertilizer imported by March 2024. Declining international prices are gradually affecting local prices, potentially restoring them to pre-Covid-19 levels and boosting demand for the 2024 crop year. Importers are preparing by increasing inventories and considering re-export opportunities to Burkina Faso and Mali to manage credit risks. Prices have been stable from February to March, with notable decreases compared to January. Additionally, the cotton sector secured 146,400 tons of fertilizer for the 2024 season, slightly lower than the previous year, with current prices at $28 for urea and $30 for NPK, pending adjustments for the upcoming season.

Ghana: The World Bank recently issued a procurement tender for Ghana’s Ministry of Food and Agriculture (MoFA), aiming to purchase 27,876.65 metric tons of NPKs and 9,528.85 metric tons of urea. In March 2024, fertilizer prices saw a slight increase compared to the previous month. Ghana secured a shipment of 14,000 metric tons of European 15-15-15 fertilizer, soon to be loaded onto the port, while another vessel carrying blended 23-10-5 fertilizer has departed Europe and is expected to arrive in the second week of April. MoFA has initiated farmer registration for the Planting for Food and Jobs phase two (PFJ 2.0) program, targeting over 2 million farmers this year.

Liberia: As the main farming season approaches, land preparation is nearing completion nationwide, with 10-20% of seeds already planted. Despite farmers acknowledging the importance of fertilizers, sales remain low due to high costs, despite minor price reductions for TJAL fertilizers. This disparity is attributed to varying pricing strategies among agro-dealers. Many farmers refrain from purchasing fertilizers due to cost and reliance on donor assistance, leading to stagnant prices. Agro-dealers face increased market risks while awaiting government subsidies to ease prices. The gap between farmer demand and agro-dealer sales persists, prompting expectations of government intervention to reduce prices. Despite this, agro-dealers maintain sufficient fertilizer stocks to meet demand. Presently, subsidies are only provided to agro-dealers during port clearance, resulting in high prices for farmers.

Nigeria: Nigeria’s annual inflation rate is set to rise from 31.70% in February to 32.63% in March, driven by concerns over escalating fertilizer prices. With ex-factory prices undergoing further revisions, retail prices are on the ascent, likely impacting fertilizer consumption, particularly during the wet season farming period in the Southern and North-central regions. Despite recent reports of the naira strengthening against the dollar, persistently high raw material costs and the dollar-to-naira exchange rate pose ongoing challenges. These factors contribute to the continued increase in retail prices of fertilizer products, compounded by transportation costs. Nevertheless, there’s optimism regarding the availability of fertilizer raw materials for the upcoming farming season. The country’s primary importers plan to import additional vessels of key raw materials, aiming to bolster NPK production and supplement existing carryover stock into 2024.

Senegal: As of March 2024, Senegal’s fertilizer market remains stable, with a diverse range of fertilizers available across different regions. Government subsidies have led to a decrease in fertilizer prices, improving accessibility to both subsidized and non-subsidized fertilizers and enhancing agricultural productivity and food security. Analysis of fertilizer prices in various cities reveals significant diversity in both varieties and costs. For example, Urea prices range from 12,500 to 30,000 CFA francs for 50 kg bags, while NPK formulations vary from 13,000 to 45,000 CFA francs for 25 kg or 50 kg bags. Price fluctuations on the open market show a 13% decrease in NPK 15-15-15 and a 9% increase in NPK 15-10-10. Urea experienced a notable 19% decline, with other formulations showing moderate variations, reflecting market trends and the availability of subsidized fertilizers. The availability of diverse fertilizers in each city underscores specific agricultural needs, demonstrating a dynamic relationship between supply and demand across production areas.

Sierra Leone: Fertilizer sales in March 2024 have significantly dropped compared to the previous month, as reported by major importers like Seedtech, TJal, and Jamal Enterprises. Despite this, Mangara Agribusiness made a substantial Urea sale to Sunbird Bioenergy in Northern Sierra Leone, which utilizes Urea for various agricultural purposes. March in Sierra Leone typically witnesses high temperatures, leading to reduced farming activities and lower fertilizer demand, expected to persist until early April. Consequently, fertilizer prices are anticipated to remain stable or slightly decrease in certain regions due to the subdued demand from farmers.

Togo: In March 2024, there is an abundant supply of fertilizers in Togo, with 30,179 tons of subsidized fertilizers available across the country. Out of 230 designated stores, 225 have been stocked with approximately 22,000 tons, including 9,000 tons of urea and 13,000 tons of NPK 15-15-15. The remaining 5 stores in the northern region await supplies due to the delayed onset of the rainy season. Additionally, 8,179 tons of fertilizers, comprising 6,657 tons of urea and 1,522 tons of NPK 15-15-15, are stored in Lomé warehouses. Despite this surplus, the current demand remains low, with only 73 tons of fertilizer sold in March. Looking ahead to the 2024-2025 agricultural season, a total of 33,952 tons of fertilizer has been mobilized, including 29,202 tons of urea and 4,750 tons of NPK 15-15-15. Notably, the government holds 27,000 tons of urea, while private companies possess 6,952 tons, including 2,202 tons of urea and 4,750 tons of NPK 15-15-15. Prices for fertilizer for food crops, including urea and NPK 15-15-15, remain subsidized and unchanged, priced at $30 (or 18,000 FCFA) per 50 kg bag. Similarly, cotton-specific fertilizers like NPK 12-20-18 +5S +1B, including urea, remain stable at $23 (or 14,000 FCFA) per 50 kg bag. New subsidized prices are anticipated at the beginning of the 2024-2025 crop year.

Availability and Affordability: In West Africa, fertilizer markets demonstrate diverse pricing trends at retail levels in the month of March. Currency devaluation, notably in Nigeria, has resulted in significant price increases, especially for newly imported products. Conversely, regions with existing stock observe relatively stable or decreasing prices. While certain countries face affordability challenges, overall availability remains consistent, with no significant reports of shortages. This mixed pricing pattern is expected to continue in the coming year.

Distribution: Fertilizer distribution in West Africa is gradually returning to normalcy, signaling a positive shift as the effects of the Russia-Ukraine conflict diminish. Most fertilizer ports and border crossings are now operational, indicating improved conditions across the region. Despite ongoing security challenges in Nigeria’s northeastern region, there is optimism with the removal of various sanctions in Niger by ECOWAS. Landlocked nations like Mali and Burkina Faso have demonstrated resilience by leveraging ports in Cote d’Ivoire for fertilizer imports, ensuring a consistent supply chain. This adaptability underscores the agricultural sector’s capacity to navigate obstacles effectively. Overall, the stabilization of distribution channels in the region is promising for agricultural resilience and sustainable growth. While localized challenges persist, projections indicate stability and continuity in the essential fertilizer supply chain across West Africa.

Overall market risk: In West Africa, the onset of rain signals the beginning of the agricultural season in several countries. However, contrary to expectations for the month under review, this has not caused significant fluctuations in fertilizer prices across most countries of the region. Instead, there has been a general notable decline in prices attributed to reduced demand. However, Nigeria stands out with record-high fertilizer prices, largely attributed to the devaluation of the Naira. Despite this, overall, there is a prevailing sense of price stability, affordability, and adequate availability of fertilizers across the region. Even in countries experiencing high prices, there have been no reports of product scarcity; rather, countries like Cote d’Ivoire, have observed market oversupply. Importantly, there have been no substantial reports of fertilizer shortages, with fertilizers remaining readily available in most reviewed countries. The lifting of sanctions in Niger offers hope for improved fertilizer supply, although there is currently no record of shortages. Moreover, there is smooth movement and supply of fertilizers across borders within the West African region.

Benin: In February 2024, nationwide fertilizer demand continued to decline while availability remained steady. Demand for urea and NPK decreased more in the north than in the central and southern regions, driven by low acquisition for yam seedlings in the north and crops like pineapple, maize, and vegetables in the center and south. The Cotton Development Corporation (SODECO) met all fertilizer orders, supplemented by imports from small-scale operators for specific crops. Government preventive measures ensured ample supply, with subsidized fertilizers covering national needs. Prices remained constant at $23 per 50 kg bag. Open market prices saw a 6% decrease, with fertilizers like urea, SSP, NPK 13-17-17, and NPK 14-18-18 sold for about $26 per 50 kg bag. Potassium sulfate prices stayed stable, ranging from $18 to $22.

Cote d’Ivoire: The fertilizer market is stabilizing after a dramatic 174% increase in imports in 2023, leading to significant reserves. Major importers have surplus stock, well above the national forecast, with reports of an additional 75,000 tonnes arriving in February. This oversupply ensures market coverage for the next two months. Consequently, fertilizer prices declined in February, with urea decreasing by 10% and NPK 15-15-15 and NPK 0-23-19 by 4%. This price decrease reflects the decline in import prices and government support, maintaining affordability for farmers.

Ghana: Fertilizer prices decreased in February 2024 due to reduced demand at agricultural dealerships, but they remain high for most farmers. Prices of most fertilizers remained stable, except for Ammonium Sulphate, which saw a 1% decrease. Agricultural dealerships nationwide have significant fertilizer inventories (availability) to meet farming community needs at the beginning of the farming season.

Liberia: The demand for fertilizers remains somewhat stable, but availability and pricing pose significant challenges to agro-dealers, influenced by their location and entry points nationwide. As we approach the main farming season, land preparation is nearly 70% complete, yet fertilizer demand is lower compared to previous months, with prices varying among dealers. In some regions, like the southeastern part of the country, land preparation is finished, awaiting the first rain for seeding, with expectations of high demand and lower prices aligning with the new government’s agenda. However, there is an imbalance in the farmer-to-agro-dealer ratio, with low sales for most dealers as farmers anticipate government intervention to reduce prices through subsidies. Projections for future price fluctuations hinge on new government regulations, policies, and fertilizer availability.

Nigeria: Rising fertilizer costs in Nigeria raise concerns about affordability for farmers, potentially impacting crop yields and food security. As dry-season farming continues and preparations for the wet season are underway, there’s a slight increase in farmer demand. However, the rising prices pose challenges for farmers to access essential inputs, which could significantly affect agricultural productivity and food availability. Factors contributing to the price hike include difficulty obtaining urea from factories, increased raw material costs, higher ex-factory prices, rising diesel and exchange rates, and inflation.

Senegal: In February 2024, demand for off-season fertilizers remains high, particularly for urea, NPK 15-10-10, and NPK 10-10-20 in market gardening areas like Niayes. Similarly, the onset of the irrigated rice season in the Valley has increased demand for DAP. To address seasonal fluctuations, the government has made over 180,500 tons of fertilizer available, ensuring continuous supply throughout the agricultural season. Additionally, 6,000 tonnes of DAP have been supplied to farmers during the shoulder season, contributing to stabilizing the fertilizer market. A public financial contribution of 40 billion CFA francs has reduced prices of subsidized fertilizers, returning them to pre-crisis levels. Main products are now sold at prices such as $21 for a 50 kg bag of urea, $13 for NPK 6-20-10, and $18 for NPK 15-15-15. On the open market, prices fluctuated differently in January and February, with slight decreases for NPK 15-15-15 and NPK 15-10-10, and slight increases for urea, NPK 6-20-10, and NPK 10-10-20, attributed to subsidized fertilizer availability and downward international price trends causing market distortions.

Sierra Leone: In early February 2024, fertilizer sales were moderately high compared to the previous month, particularly in the Western Area. However, sales slowed in the latter half of the month as the dry season settled in Sierra Leone, leading to decreased demand from vegetable farmers. This trend is expected to continue until April 2024. While moderate demand is anticipated from small and large-scale cash crop farmers in the North and South, overall fertilizer demand is projected to be moderately low in the Northern and Eastern regions, where vegetable farming is prevalent. Consequently, prices are expected to remain stable or experience a moderate drop in some areas due to declining demand among vegetable farmers. Prices vary across the country, with the Northern province generally having more reasonable prices compared to the Western Area, where prices are higher. Diammonium Phosphate prices notably increased in February 2024. It’s important to note that all mineral fertilizers, including Urea and NPK, are imported into Sierra Leone, with prices determined by import costs, though other factors contribute to price discrepancies. Various fertilizers, including NPK, Urea, DAP, and organic fertilizers, are available across Sierra Leone, with the Western Area having the largest share.

Togo: The fertilizer market remains stable with abundant supply, supported by the distribution of subsidized fertilizers. From January to February, government structures received 33,952 tons of fertilizers, covering the total order of 173,000 tons. In February, an additional 28,819 tonnes of fertilizer were made available, meeting current demand, particularly for off-season crops. A total of 97,684 tonnes of fertilizer have been distributed, fully covering the annual forecast, with nearly 100,000 tons still available for the next three months. Prices remain unchanged for food crops and cotton-specific fertilizers at $30 and $23 per 50 kg bag, respectively. Private companies focus on limited sales of liquid mineral fertilizers and organic fertilizers. In February, the most common product available is NPK 4-2-2, sold at $30 per 50 kg bag.

Availability and Affordability: Across West Africa, fertilizer markets continue to exhibit varied pricing dynamics at retail levels. Recent currency devaluation has led to major price hikes in some countries like Nigeria, particularly for newly imported products, while regions with existing stock experience more stable pricing. Despite some affordability challenges in specific countries, overall availability remains assured, with no major reports of acute shortages. This mixed pricing trend is anticipated to persist into the upcoming year.

Distribution: Fertilizer distribution in West Africa is rebounding to normalcy, signaling a positive trend as the effects of the Russia-Ukraine conflict wane. Most fertilizer ports and border crossings are now operational, indicating improved conditions. Challenges persist in Nigeria’s northeastern region due to security issues, while hope rises for Niger as the various sanctions have been removed by ECOWAS. Landlocked nations like Mali and Burkina Faso have shown resilience by using ports in Cote d’Ivoire for fertilizer imports, ensuring a steady supply. This adaptability underscores the agricultural sector’s ability to overcome obstacles. Overall, the stabilization of distribution channels in the region bodes well for agricultural resilience and sustainable growth. Despite localized challenges, projections suggest stability and continuity in the vital fertilizer supply chain across West Africa.