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South African fertiliser prices fell marginally in the week to 27 October, with urea granular down 1.7%, MAP down 3.1% and KCl down 2.7%. A stronger rand pushed local prices lower.
Producers in urea-exporting regions were discounting to move high inventories after a weak Indian urea tender.
High producer stocks and discounting in urea, DAP and potash point to softer fertiliser input costs for farmers, with limited near-term support for prices.
farmingportal.co.zaOct 28, 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.
Exporters discounting to clear high inventories after a weak Indian urea tender points to weak demand and heavy supply, a direct driver of the sharp urea price drop dated the same day.
Exporters are discounting to clear high inventories after a weak Indian tender, which points to falling urea prices in the days around the move.
