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Fertiliser production has been hit by the Covid-19 pandemic, with an estimated 2.5 million tonne cut in Indian capacity, about half of it urea. UK spot demand surged during good spring weather, and a weaker pound pushed up import prices, with some straight fertilisers firming 8-14% on the week.
Reduced Indian urea output and firm UK spot demand point to higher fertilizer costs for farmers, with the India effect possibly delayed globally depending on how long shutdowns last.
thescottishfarmer.co.ukKen FletcherApr 6, 2020Not enough comparable past events yet for a historical read.
After 758 past bullish events of any kind, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.6% to +2.7%), and +1.3% 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.
