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India's Department of Fertilizers reported that average international fertilizer prices fell sharply in December 2023 compared with December 2022. Urea (FOB) dropped about 30% to $402/MT, DAP (CFR) about 18% to $595/MT, and MOP (CFR) about 46% to $319/MT.
The year-on-year declines show that fertilizer input costs have eased considerably from their 2022 peaks. Lower costs could support farm margins, though recent Red Sea freight pressures may slow further declines.
fertiliserindia.comFertiliserIndia.comJan 28, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 42 past bearish report events, Urea moved a median +0.3% over 5 sessions (57% higher; middle half -1.9% to +3.3%), and +2.9% over 20.
After 35 past bearish report events, DAP moved a median 0.0% over 5 sessions (37% higher; middle half -0.7% to +1.5%), and +0.6% 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.
