Thailand Fertilizer Association: Middle East imports gradually recovering, global fertilizer shortage easing

Golden Ten Data reported on June 22 that Thavee Thiaw Surakul, Vice Chairman of the Thailand Fertilizer and Agricultural Supplies Association, stated that the global fertilizer shortage is gradually easing, with a notable improvement in the supply of urea, which was particularly tight between March and May. Currently, imports from the Middle East via the Strait of Hormuz have resumed, and Saudi Arabia has adjusted its logistics to deliver shipments to Thailand via the Red Sea. He mentioned that domestic retail prices will decrease slowly in line with actual costs and will not drop immediately, as some inventory was procured at high prices, but he insisted that prices will not rise further. Phongsak Bakongsak, Chairman of the Thailand Fertilizer and Agricultural Supplies Association, said that the Iranian government has confirmed its readiness to supply urea fertilizers to Thailand. He noted that Iran has informed Thailand that it will not charge any special fees or "commissions" for ships bound for Thailand. Russia, as a friendly nation, is also willing to cooperate with Thailand in fertilizer trade.