Retail anhydrous ammonia prices in Illinois have risen significantly compared to both last year and two years prior, reaching levels only seen once in the past decade. High nitrogen fertilizer costs are creating strong economic incentives for farmers to reduce application rates, though historical data shows many farmers have been slow to adjust rates downward even when prices are elevated.
Loss of several CO2 sources and plant outages—including contamination issues at Jackson Dome—have significantly tightened North American supply. New sources from dairy and food waste are beginning to enter the market, but supply constraints from declining traditional sources (ethanol, hydrogen, ammonia) are expected to keep upward pressure on CO2 prices. Regulatory progress on 45Q and 45Z carbon capture incentives remains a key variable for longer-term supply expansion.
Asia
In Asia, ammonium carbonate prices mostly fell during the fourth quarter of 2025. Production in major countries like China and India remained strong, with many plants running at normal or high capacity. This kept supplies ample, and buyers were cautious because downstream demand, especially from fertilizer and chemical sectors, was weaker than expected.
Some temporary maintenance caused minor short-term price rises, but overall, the market remained soft. The combination of sufficient inventory and moderate demand led to prices stabilizing at lower levels by the end of the quarter.
Europe
European markets saw a generally stable to slightly declining trend in ammonium carbonate prices. Industrial activity remained moderate, and fertilizer consumption was lower in the off-season, keeping demand soft. Imports continued to add to local supplies, which prevented any strong price gains. Some regional fluctuations occurred due to logistical delays and energy costs, but they were limited. Overall, prices were steady or slightly down compared with the previous quarter, reflecting a balance between steady supply and slow purchasing by end-users.
North America
In North America, prices followed a modest downward trend during Q4’25. Supply remained sufficient, and domestic producers kept output steady. Agricultural demand was lower toward the end of the year, and industrial buyers purchased mainly to meet immediate needs, avoiding speculative stockpiling. This cautious buying, along with ongoing high inventories, contributed to slight price declines. However, prices did not drop sharply and remained mostly range-bound.
Analyst Insight
According to Procurement Resource, Ammonium Carbonate prices are expected to stay fairly stable in the near term, with only minor changes unless there were major shifts in supply or demand.
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Asia
In Asia, especially in China, ammonium carbonate prices followed a mostly weak trend during Q3 2025. The quarter began with low demand from agriculture and steady production levels, which caused oversupply in the market. Many producers had resumed normal operations after earlier maintenance shutdowns, increasing the output. At the same time, downstream industries, including fertilizers and chemicals, showed little growth in consumption. Some temporary support to prices came in late July due to new maintenance activities at certain plants, which slightly tightened the supply.
However, this effect didn’t last long. August saw prices come under more pressure as supply remained high and buyers stayed cautious. Industrial activity was flat, and seasonal agricultural demand had not yet picked up, leading to increased inventories and weak buying interest. In September, prices saw a brief recovery as some suppliers adjusted their output levels. Still, this was offset by continued sluggish demand. Overall, the market showed signs of instability, with more downward pressure than gains throughout the quarter.
Europe
In Europe, ammonium carbonate prices remained under pressure during the third quarter. Production across the region stayed stable, and there were no major supply disruptions. However, demand from end users stayed low, particularly in the fertilizer and food processing sectors, which use carbon dioxide in production.
The market also reflected broader trends in weak industrial activity and cautious purchasing behaviour. Even when supply eased slightly at times, prices did not gain much support. The weak demand environment meant that even small increases in supply could weigh on the market. Prices showed little momentum and mostly moved in a downward or flat direction.
North America
In North America, the market for ammonium carbonate was relatively balanced but stayed soft overall. Supply remained steady as plants operated normally without major issues. Demand from agriculture was low, which is typical during off-season months. Industrial users continued to buy on a need-only basis, without any noticeable rise in consumption. As a result, prices stayed within a narrow range and lacked clear direction throughout the quarter.
Analyst Insight
According to Procurement Resource, Ammonium Carbonate prices may stay mostly stable in the coming months. A slight rise in agricultural demand could offer some support, but stronger recovery will depend on broader industrial demand picking up.
Ammonium carbonate is a crystalline white powder with a pungent smell that readily decomposes to ammonia, carbon dioxide, and water. It is a popular leavening agent employed in baking industries and thus is also known as baker’s ammonia. It has been traditionally employed in baked goods for its ability to produce carbon dioxide gas, contributing to the rise and texture of certain recipes.
(NH4)2CO3
Baking, Leather industry, PH Control, Pharmaceuticals, Textile
Bayer AG, Shanghai Mingdou Agrochemical Co Ltd, Monsanto Company, Syngenta Group, SinoHarvest
Baker’s ammonia
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
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Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In this reaction, carbon dioxide gas is passed over ammonia solution and the vapors are distilled to give ammonium carbonate in solid form.
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