# Urea Sector Update - Marginally higher urea price outlook in 2024 - Vietcap

> Vietcap raised its 2023 average Middle East urea price forecast to USD 360/t and its 2024 forecast to USD 370/t. The firm cites China's urea export restrictions, Russia's extension of nitrogen export quotas through end-2024, and possibly lower EU exports as drivers, with urea futures recovering to about USD 380/t in mid-November from a late-June low near USD 260/t.

- Date: 2023-11-17 · published 2023-11-17T12:00:00.000Z
- Category: policy · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/33475-urea-sector-update-marginally-higher-urea-price-outlook-in-2024-vietcap
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Expected policy-driven export curbs from China and Russia support nitrogen fertilizer prices into 2024, raising input costs for feed grain and oilseed producers.

## Read by commodity

- UREA: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2025-07-10 | [Urea Sector - Strong short, long-term urea price outlook - Vietcap](https://feedsoft.ai/events/24078-urea-sector-strong-short-long-term-urea-price-outlook-vietcap.md) | -0.6% | +5.3% |
| UREA | 2024-02-29 | [Higher gas prices push up urea rates](https://feedsoft.ai/events/6432-higher-gas-prices-push-up-urea-rates.md) | +7.6% | +8.6% |
| UREA | 2023-12-22 | [Fertilizer Outlook: Global dynamics to influence 2024 fertilizer prices](https://feedsoft.ai/events/32630-fertilizer-outlook-global-dynamics-to-influence-2024-fertilizer-prices.md) | +1.7% | +2.7% |
| UREA | 2024-06-14 | [China Halts Urea Export Inspections; Global Prices Rise - Green Markets](https://feedsoft.ai/events/29675-china-halts-urea-export-inspections-global-prices-rise-green-markets.md) | +0.2% | -1.7% |
| UREA | 2020-06-22 | [Fertilizer industry hints at hike in urea price - Business Recorder](https://feedsoft.ai/events/52917-fertilizer-industry-hints-at-hike-in-urea-price-business-recorder.md) | +2.3% | +6.2% |

## Sources

- vietcap.com.vn: https://www.vietcap.com.vn/en/research-center/urea-sector-update-marginally-higher-urea-price-outlook-in-2024

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