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Furthermore, the World Bank reported that fertilizer prices on average would be 25% higher in 2021 than last year. In addition, the development of advanced farming techniques, expanding trade activities, and increasing use of bio-fertilizers are fueling the growth of the fertilizer industry. The global fertilizer market is expected to grow at a 4% CAGR through 2026.
Therefore, we think fundamentally strong fertilizer stocks CVR Partners, LP (UAN), and Intrepid Potash, Inc. (NYSE:IPI) could be ideal picks now to capitalize on the industry’s solid growth prospects. The recent price dips in these stocks offer a perfect entry point to lock in potential gains in the coming months.
