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Bangladesh's government bought 30,000 tonnes of bagged granular urea at $671 per tonne, down from $876 in the previous consignment and above $900 at one point. It also bought 3.36 million MMBtu of LNG from Vitol at $25.75 per unit, below the prior $26.40.
Lower import prices from a major South Asian buyer confirm that global urea and LNG prices are easing after the spike following the Russia-Ukraine war. This points to softer fertilizer and energy input costs for feed-grain producers.
tbsnews.netUNBMay 26, 2022After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% over 20.
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.
Bangladesh's urea purchase at $671/t versus $876 previously shows a sharp fall in tender price levels.
Bangladesh bought urea at $671/t versus $876 previously, a concrete price discovery point on the same date that confirms sharply lower clearing prices.
