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Fertilizer prices were broadly stable in the week to 2 February 2023, but urea prices fell 8-10% in most regional markets. The Brazilian urea price dropped $30/t to about $380/t, and large ammonium sulphate imports are keeping nitrogen prices under pressure.
Buyers are waiting for the next Indian tender, which is not expected before late February or early March.
Oversupply and weak buyer interest are pushing urea lower, and nitrogen costs for feed grain production are likely to keep easing until a major Indian tender provides a demand signal.
farmingportal.co.zaFeb 3, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
It describes falling urea prices, a negative one-month outlook and buyers holding off until the next Indian tender, so weak demand and sentiment may have spilled over to DAP.
