# Potential for volatility to reignite in fertiliser markets

> Container shipping rates and natural gas prices have risen sharply, and uncertainty over Chinese export restrictions could reignite fertilizer volatility. Urea in the Middle East spiked from $266/MT in May to $330/MT in early June, and Russia extended its fertilizer export quotas to November 30.

- Date: 2024-06-23 · published 2024-06-23T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/29673-potential-for-volatility-to-reignite-in-fertiliser-markets
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Higher gas and freight costs raise nitrogen fertilizer production and delivery costs, supporting urea prices even as weak ammonium nitrate demand limits short-term gains.

## Read by commodity

- UREA: bullish ▲
- NATGAS: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2022-08-03 | [No letup in fertiliser price volatility - 03 August 2022 Premium](https://feedsoft.ai/events/40342-no-letup-in-fertiliser-price-volatility-03-august-2022-premium.md) | -1.7% | +17.2% |
| UREA | 2021-10-22 | [Fertiliser market price rise: wait or buy now?](https://feedsoft.ai/events/44888-fertiliser-market-price-rise-wait-or-buy-now.md) | -1.7% | +9.0% |
| UREA | 2023-02-10 | [Fertiliser prices likely to remain at high level in coming months](https://feedsoft.ai/events/11746-fertiliser-prices-likely-to-remain-at-high-level-in-coming-months.md) | +1.6% | -2.7% |
| UREA | 2020-06-19 | [Sharp increase in SA fertiliser prices due to weak rand](https://feedsoft.ai/events/52920-sharp-increase-in-sa-fertiliser-prices-due-to-weak-rand.md) | +0.6% | +6.2% |
| UREA | 2020-11-27 | [Weak rand results in big fertiliser price increase](https://feedsoft.ai/events/4396-weak-rand-results-in-big-fertiliser-price-increase.md) | +8.7% | +6.6% |
| NATGAS | 2022-08-03 | [No letup in fertiliser price volatility - 03 August 2022 Premium](https://feedsoft.ai/events/40342-no-letup-in-fertiliser-price-volatility-03-august-2022-premium.md) | -0.1% | +15.5% |
| NATGAS | 2023-02-10 | [Fertiliser prices likely to remain at high level in coming months](https://feedsoft.ai/events/11746-fertiliser-prices-likely-to-remain-at-high-level-in-coming-months.md) | +0.8% | -0.0% |
| NATGAS | 2021-10-08 | [Fertilizer prices soaring as natural-gas rally adds to ‘perfect storm’ - MarketWatch](https://feedsoft.ai/events/5906-fertilizer-prices-soaring-as-natural-gas-rally-adds-to-perfect-storm-marketwatch.md) | +1.9% | +0.5% |

## Sources

- sfs.org.au: https://sfs.org.au/article/potential-for-volatility-to-reignite-in-fertiliser-markets

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