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A weekly South African fertilizer price report says prices were largely unchanged in the week to 2 March 2023. Urea trading slowed ahead of an Indian tender for about 1 million tons, with urea near $335/t after falling roughly 20% in a month.
Nitrogen products drifted lower in line with urea.
The Indian tender is the key near-term signal for global urea. A bounce could be modest toward $350-360/t, while oversupply could push prices toward $300/t, which lowers input costs for grain and feed producers.
farmingportal.co.zaMar 3, 2023Not 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.
