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UK manufactured ammonium nitrate rose another £12 per tonne for February delivery after major producers withdrew and republished terms, taking the increase since Christmas to £46/t. Egyptian granular urea reached a seven-year high of $375 FOB, and phosphate prices rose £25/t since early January as stocks were depleted.
Broad strength across nitrogen and phosphate fertilisers raises farm input costs, and the rally is occurring without Indian tender influence, suggesting further upside if India tenders in February.
uk.cofcointernational.comRosie SweetFeb 1, 2021Not 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.
Egyptian urea at a seven-year high of $375 FOB on 1 Feb marks the end of the move and confirms continued upward momentum.
Phosphate prices were rising as stocks were depleted, with a strong broader fertiliser market in early February confirming tight supply and momentum.
