CF Industries

Fertilizers are globally priced commodities, so absolute pricing power is limited. CF’s advantage is the ability to price at import parity while enjoying structurally lower costs, preserving margin even when prices normalize.

In 2025, CF reported that certified low‑carbon ammonia cargoes sold at a premium to conventional ammonia, and Donaldsonville CCS began generating 45Q credits that further support economics.

The Blue Point JV targets 1.4 million tons per year of low‑carbon ammonia with long‑lead demand from Japan supported by subsidies to bridge the coal‑to‑ammonia price gap. These elements add incremental, policy‑supported price realization beyond traditional fertilizers, though still nascent relative to group volumes.