Fertilizer prices fall from record highs amid lower demand

The Tampa, Florida, nitrogen fertilizer price index fell more than 12 percent Friday. It's the steepest drop since 2019. Record prices have slowed industrial demand.

Alexis Maxwell, a Bloomberg analyst, believes that despite a "temporary respite" in the fertilizer market, price volatility will remain high. The reason for that is high prices for natural gas, of which nitrogen is a derivative, in Europe.