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Urea prices have fallen in recent weeks after rising more than 80% in markets such as Brazil and Egypt following the outbreak of US-Iran hostilities in late February. Brazilian importers have pushed back, favoring cheaper ammonium sulfate, which surpassed urea imports in 2025 and continued to lead in early 2026.
Buyers switching to cheaper nitrogen products reduces urea demand and eases the price spike, though supply disruption through Hormuz keeps a floor under prices.
producer.comSean PrattMay 20, 2026After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% over 20.
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.
Buyer pushback and substitution to cheaper alternatives after the spike reduced urea demand in Brazil and Egypt.
