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International urea prices fell 5-8% week on week, and the Middle East FOB price dropped $15/t to break below $600/t for the first time since July. Demand is weaker than expected during the November-December peak season.
Speculation centers on the next Indian tender pushing prices lower.
Weak demand in the seasonal peak and a possible sub-$600 Indian tender point to further urea weakness, with the price likely falling steadily from February.
agricultureportal.co.zaFarming PortalNov 11, 2022Not 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.
