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Brazil's antitrust regulator Cade is reconsidering its earlier approval of Yara's purchase of Vale's Cubatão fertilizer complex for US$255 million. A Cade board member cited Petrobras' decision to mothball two fertilizer plants that together supply about half of Brazil's ammonia consumption.
Brazil imports ammonia largely through a port connected to the facility.
Petrobras' mothballing reduces domestic nitrogen output, which increases Brazil's reliance on imported fertilizer and supports nitrogen prices. Antitrust scrutiny of Yara's acquisition could also shape local supply competition.
worldfertilizer.comDavid RowlandsApr 12, 2018After 129 past bullish policy events, Urea moved a median -0.1% over 5 sessions (47% higher; middle half -1.3% to +2.3%), and +1.4% 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.
