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Tampa ammonia for April fell 26% or US$155/mt to US$435/mt cfr from March's US$590/mt cfr, as sources had expected a sizeable drop on lower European and US natural gas prices and plentiful supply. Urea in Brazil slipped to US$315-US$320/t cfr and Middle East FOB eased to US$289-US$312/t, while several NW Europe ammonia plants ran at low rates on weak fertilizer-sector demand.
Lower ammonia and natural gas costs reduce nitrogen production costs, adding downward pressure on urea and other nitrogen fertilizer prices that feed into farm input costs for feed grain growers.
genesisfertilizers.comCaitlinMar 31, 2023Not 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.
