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Urea prices fell between $5 and $35 per tonne across major benchmark regions, with Middle East FOB approaching $330/t and Brazil dropping $35 to $315/t. Phosphate and potash prices in South Africa also rose week-on-week in rand terms, while urea is expected to weaken further amid oversupply.
Oversupply in urea and speculation of an earlier Indian tender point to continued downward pressure on nitrogen costs, although a tender could provide short-term support.
farmingportal.co.zaFeb 17, 2023Not enough comparable past events yet for a historical read.
Not 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.
