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Urea prices in South Africa fell about 9.5% week-on-week as producers cut prices amid an oversupplied market and minimal buyer interest. Indian urea stocks are high and the government is delaying its tender, while European and US demand is quiet with natural gas at 12-month lows.
Global nitrogen oversupply and delayed Indian demand signal lower fertilizer input costs, though a spring refill could offer some support later.
farmingportal.co.zaFarming PortalJan 13, 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.
