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Fertiliser manufacturers CF and Yara raised UK ammonium nitrate prices by £18 per tonne in late January 2021, and Yara lifted some NPK grades by a further £10 per tonne. Egyptian granular urea offers rose to about $340 FOB for March, which points to UK urea near £320/t.
UK urea stocks are reported to be tight.
Higher nitrogen input costs squeeze farm margins and push up the cost of feed-grain production. Tight UK urea stocks and rising offshore prices suggest further price increases until new supply arrives.
uk.cofcointernational.comRosie SweetJan 25, 2021Not 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.
Rising Egyptian urea offers and tight UK stocks point to supply tightness feeding through to prices.
Rising Egyptian granular urea offers (~$340 FOB) and tight UK urea stocks reflect supply tightness and firmer European nitrogen pricing that supported the rally.
Egyptian urea offers near $340 FOB and tight UK stocks, with producers raising nitrogen prices, show that the price increase was spreading across regions.
