24/07/2026
At Fertis, we continue to follow developments in sulphur, phosphoric acid and phosphate fertilizers closely. The latest escalation around the Strait of Hormuz has once again reminded how vulnerable some of the world’s most important supply chains remain. And today, let’s focus on the sulphur shortage.
Sulfur market has already been extremely tight in recent months. Available volumes - quite limited, prices - constantly rising, and phosphate producers - facing increasingly expensive raw materials. Now, renewed Hormuz uncertainty is adding another layer of risk.
This matters because the Middle East is not only an important fertilizer-producing region but also a critical source of sulphur for the global market. Any disruption (or even the expectation of possible disruption) can quickly affect freight, insurance, vessel availability and buyers‘ willingness to secure material in advance. In an already undersupplied market, relatively small changes in availability can produce disproportional price reactions.
And this is exactly where the current situation becomes particularly important for phosphates.
Sulphur is a key raw material in the production of phosphoric acid, which in turn sits at the heart of DAP, MAP and many other phosphate fertilizers. When sulphur becomes scarce and expensive, the impact moves further down the production chain.
In fact, DAP and MAP producers now find themselves caught in a difficult squeeze. On one side, exceptionally high DAP and MAP prices are beginning to undermine demand. Buyers are increasingly resistant to current price levels, while farmers may respond by reducing application rates or postponing purchases. On the other side, high sulphur and phosphoric acid costs leave producers with very limited room to reduce DAP and MAP prices without putting their own economics under severe pressure.
That is why the next chapter of the fertilizer market may be shaped not only by what happens to shipping through Hormuz, but by a broader question: How quickly can the global sulphur market rebuild sufficient supply — and at what price?