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The Middle East urea price, Australia's main nitrogen source, has almost halved year on year to A$645/t in January. A mild European winter lowered gas costs, which fed through to Middle Eastern prices.
Local Australian retail prices have not yet fallen, and analysts are unsure whether the drop will reach growers.
Global urea declines are not yet passing through to Australian farm input costs, so the market impact on local buyers is limited for now. Persistent retail prices keep fertilizer costs high for Australian crop producers.
queenslandcountrylife.com.auBrandon LongJan 25, 2023Not 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.
