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Global urea prices have fallen since September 2022 and are now near Q2 2021 levels, with producers struggling to build order books this year. Arab Gulf fob values dropped from $720/t to below $400/t, and Egyptian prices fell from $900/t to $430/t.
Ample nitrogen availability and weak Indian tender demand point to continued downward pressure on fertilizer costs, which lowers production costs for feed grain growers over time.
ukragroconsult.comJan 31, 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.
