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Urea prices have risen over 20% since late March, with Middle East and Egyptian granular urea reaching $280/t fob, and June production is largely committed. Supply is constrained by US sanctions on Iran, which block Iranian product from Indian business, while China's absence from the export market has limited competition.
Tight urea supply and firm Indian demand support higher nitrogen fertilizer prices heading into the second half of the year, raising input costs for crop producers.
profercy.comChris YearsleyJun 7, 2019After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% 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.
