Clean Ammonia Market Growth and Fertilizer Industry Outlook

Global grain and oilseed supplies are projected to remain tight through 2023 Global Grain Stocks-to-Use Ratio¹ Percent 17.7 18.0 17.3 17.4 16.7 16.5 15.3 15.0 14.1 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23F 1. Excluding China. Grains refer to barley, corn, millet, mixed grain, oats, rice, rye, sorghum and wheat. Oilseeds refer to soybeans, canola and sunflowers. 2. Global Oilseed Stocks-to-Use Ratio² Percent 27.1 22.2 22.4 22.6 21.8 24.0 23.2 21.7 20.7 ساسس 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23F 14 Source: USDA, Nutrien

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