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Spot urea prices have fallen by about $650/t over the past year, from a peak in the mid-$900s in March 2022. CSBP's general manager says the market shows clear deflation and is normalising as gas supply recovers and China returns to trade.
Normalising gas supply and renewed Chinese exports are removing the scarcity premium from urea, supporting lower nitrogen costs for feed-grain growers. The trend suggests prices will stay soft unless new supply shocks occur.
farmweekly.com.auJasmine PeartFeb 7, 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.
