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Yara International reported first-quarter 2024 EBITDA of USD 435 million, down 11% year on year, as lower prices offset a 12% rise in total deliveries. Net income fell to USD 16 million from USD 105 million.
The company said urea supply is currently strong from India and China but expects a tightening supply-demand balance over the longer term.
Lower urea prices and strong near-term supply from India and China point to softer nitrogen costs for farmers this season. Yara's view of tighter balances later could support prices beyond 2024.
globenewswire.comYara International ASAApr 26, 2024Not 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.
