# Global nitrogen markets yet to find a floor as supply continues to surpass demand

> The Profercy World Nitrogen Index fell 9.15 points to 195.47, its lowest level since June 2021. Ammonia prices in NW Europe dropped $40-50/t week-on-week, and vessels are queuing at Middle East and Southeast Asian export hubs. Short-covering urea sales in Egypt provided only brief support.

- Date: 2023-02-03 · published 2023-02-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37630-global-nitrogen-markets-yet-to-find-a-floor-as-supply-continues-to-surpass
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Oversupply of ammonia and urea is pushing nitrogen fertilizer prices lower, which lowers feed-grain production costs over the coming season. Buyers should expect continued softness unless supply is curtailed.

## Read by commodity

- UREA: bearish ▼

## Sources

- profercy.com: https://www.profercy.com/insights/global-nitrogen-markets-yet-to-find-a-floor-as-supply-continues-to-surpass-demand

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