# Global urea producers comfortable as prices rally 20% since turn of year

> Global urea benchmarks in east and west have rallied more than 20% since January, matching early-November 2023 levels. A supply squeeze in the east, early Oceania demand and short covering in Turkey and Europe have left many producers well sold for the next 30-45 days. India's NFL tender secured only 647,000t against a 1m t target, and Egyptian buying pushed prices into the mid-$370s pt fob.

- Date: 2024-02-02 · published 2024-02-02T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/31975-global-urea-producers-comfortable-as-prices-rally-20-since-turn-of-year
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Tight eastern supply and a weak Indian tender have lifted urea prices, raising feed-grain and fertilizer costs for buyers ahead of spring application. Producers' full order books suggest prices may hold near current levels in the short term.

## Read by commodity

- UREA: bullish ▲

## Sources

- profercy.com: https://www.profercy.com/insights/global-urea-producers-comfortable-as-prices-rally-20-since-turn-of-year

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