Loading…
Trade data shows Spain's urea imports from Russia reached nearly 120,000 mt in January-October, about 15% of Spanish urea imports and the highest level since 2008. Spain also recorded record imports of Russian CAN, and market participants are calling for EU tariffs on Russian fertilizer.
A shift in Spanish sourcing toward Russia matters mainly for regional trade flows, and proposed EU tariffs could tighten European nitrogen supply if adopted. The direct effect on global fertilizer prices is limited at this stage.
spglobal.comDec 23, 2024After 283 past trade events, Urea moved a median -0.4% over 5 sessions (45% higher; middle half -2.2% to +1.9%), and +0.1% 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.
