– Consumption Value: Between 2021 and 2023, the apparent consumption value of fertilizers declined at an annual average rate of 2.1%, primarily due to the overall decline in fertilizer prices. Prices for N, P, and K fertilizers fell from an average of USD700/tonne, USD772/tonne, and USD863/tonne in 2022 to USD358/tonne, USD550/tonne, and USD383/tonne in 2023, respectively (Source: Vital Factor analysis).