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Urea prices fell sharply in most regional markets as oversupply forced producers to cut prices, with the Middle East FOB dropping almost 10% to about $390/t. US prices slid as producers with large stocks sold, and the next Indian tender is expected no earlier than February.
Oversupply and delayed Indian tender demand are pushing fertilizer prices lower, with analysts expecting further short-term declines before a possible rebound.
farmingportal.co.zaJan 27, 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.
