# Urea: Lower EU gas prices and India's absence results in bearish start to 2023

> Urea prices started 2023 bearishly as Egyptian sales took place below $500/t fob, the lowest since September 2021. European TTF gas fell to about €70/MWh from €135-140 in December, and India's urea tender was absent from the market.

- Date: 2023-01-06 · published 2023-01-06T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10447-urea-lower-eu-gas-prices-and-india-s-absence-results-in-bearish-start-to-2023
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Lower European gas cuts nitrogen production costs and pulls the ammonia cost floor down, while the lack of Indian buying leaves supply ample, pressuring urea and related nitrogen prices lower.

## Read by commodity

- UREA: bearish ▼
- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| UREA | 2023-01-10 | 1 | -6.4% | -3.4 | Egyptian urea sales below $500/t fob, a sharp drop in European TTF gas (an input cost) and no Indian tender signaled weak demand and lower cost support, directly pushing prices down. |

## Sources

- profercy.com: https://www.profercy.com/insights/urea-lower-eu-gas-prices-and-indias-absence-results-in-bearish-start-to-2023

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.