Glyphosate Prices Drop by 64%, Major Changes in the Agricultural Input Market!

According to a report from agricultural information agency AZ Group, the price of glyphosate, a key agricultural input in Argentina, has dropped by 64% since reaching a historical high in 2022. This price decline trend is similar to that in the Chinese market, which also experienced peak prices in early 2022. This year, glyphosate prices have decreased by more than one-third.

In addition to glyphosate, prices for other herbicides such as glufosinate and 2,4-D have also fallen, decreasing by 78% and 44%, respectively. Although Argentina's National Inclusion and Solidarity Tax (PAIS) ended in 2023, the market price retreat continues. This tax has been in effect since December 2019 and applies to transactions conducted in foreign currency.

In the fertilizer market, local demand has started to recover with the reduction of the PAIS tax. The prices of urea and MAP have been directly affected, estimated to have decreased by $30 and $46 per ton, respectively. According to data from the National Institute of Statistics and Census of Argentina, the country's urea import volume reached 96,000 tons in 2024, with a cumulative total of 1 million tons, showing a significant recovery compared to previous years.

Despite this, in December, local urea prices dropped by 6%, with port delivery prices at $483 per ton, while the theoretical import parity was $500 per ton. In terms of phosphate fertilizers, MAP imports reached 50,000 tons in November, with a cumulative total for the year of 765,000 tons of MAP and 281,000 tons of DAP. While these figures exceeded last year's numbers, they remain below historical averages. The local port delivery price for MAP was $827 per ton, a decline of 2% within the month, with a theoretical import parity of $749 per ton.