# Global trading overview - Q1 2024 in review | Incitec Pivot Fertilisers

> Lower nitrogen prices reflect weaker demand from India and a short-term rise in Chinese supply, while Southeast Asian output is disrupted by plant downtime. Red Sea diversions keep freight costs high, and Chinese export restart is delayed to Q3 2024.

- Date: 2024-06-26 · published 2024-06-26T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/29676-global-trading-overview-q1-2024-in-review-incitec-pivot-fertilisers
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Delayed Chinese exports and Southeast Asian outages support nitrogen prices, while high freight costs add to delivered fertilizer costs.

## Read by commodity

- UREA: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2025-11-05 | [Global fertilizer prices expected to rise 21% in 2025 - Ecofin Agency](https://feedsoft.ai/events/6229-global-fertilizer-prices-expected-to-rise-21-in-2025-ecofin-agency.md) | -2.3% | -10.7% |
| UREA | 2025-04-22 | [Q1 Fertilizer Review — Chewachem Ltd.](https://feedsoft.ai/events/25022-q1-fertilizer-review-chewachem-ltd.md) | +2.9% | +14.6% |
| UREA | 2025-05-14 | [Global fertilizer prices climb 11% in early 2025: World Bank  ...](https://feedsoft.ai/events/25007-global-fertilizer-prices-climb-11-in-early-2025-world-bank.md) | -2.9% | -25.4% |
| UREA | 2022-10-08 | [Global Fertilizer Price Updates: September’ 2022 -](https://feedsoft.ai/events/39446-global-fertilizer-price-updates-september-2022.md) | -1.2% | -13.9% |
| UREA | 2021-12-12 | [Global Fertilizer Price Update: November’21 -](https://feedsoft.ai/events/43943-global-fertilizer-price-update-november-21.md) | 0.0% | -12.1% |

## Sources

- incitecpivotfertilisers.com.au: https://www.incitecpivotfertilisers.com.au/news/latest-news/global-trading-overview---q1-2024-in-review/

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