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Australia imported 64pc of its 2025 urea from the Persian Gulf, and current domestic supplies last only until mid-April. Southeast Asian producers are mostly sold out for March, and Oman is the only Gulf source still shipping.
Growers who now want volumes face limited offers.
Australia's peak import season coincides with supply loss from the Gulf, so buyers will bid for alternative cargoes and push up urea prices. Higher nitrogen costs affect Australian grain and feed production.
argusmedia.comSusannah Cornford, Ed DunlopMar 25, 2024After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% 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.
