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South African retail urea prices fell about 9% week on week as the Middle East price dropped more than 10% to the mid-$500s per tonne. Phosphate and potash rose in rand terms as the currency weakened, and US urea demand is weak because of wet conditions that have left millions of acres unplanted.
Weak urea demand and falling Middle East prices point to cheaper nitrogen, though a weaker rand is raising phosphate and potash costs for buyers in South Africa.
farmingportal.co.zaJun 17, 2022farmingportal.co.zaFarming PortalJun 17, 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.
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.
