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South African weekly fertilizer prices fell in the week to August 29, with urea granular down 3.9% to R6,846/t, MAP down 1.4% and KCl down 1.4%. The decline was attributed to a strong rand and an Indian urea tender that pressured Middle East prices into the low $320s/t.
Lower Indian tender offers and a firmer rand point to softer nitrogen and phosphate import costs, a bearish signal for fertilizer prices in the near term.
farmingportal.co.zaAug 30, 2024Not enough comparable past events yet for a historical read.
Not 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.
