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Global urea prices have fallen since September 2022 and are near pre-war levels, with Egyptian urea down from about €855/t to €385/t. Ammonia prices have dropped back to late-2021 levels as European gas prices normalised.
Bulk freight rates have also fallen to near pre-COVID levels.
Lower gas costs and ample supply point to cheaper nitrogen for spring applications, reducing farm input costs. Buyers are holding off purchases while prices fall, which adds further downward pressure.
farmersjournal.ieAnne FinneganFeb 1, 2023Not enough comparable past events yet for a historical read.
Not 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.
