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South African retail fertilizer prices kept falling in the week to June 1, with nitrogen down 1.3 percent, phosphate down 8.2 percent and potash down 3.9 percent per kilogram of nutrient. Urea is expected to fall further in the short term despite a weaker rand.
A reduced Indian tender of 800,000 tonnes is expected to push prices lower.
Falling local nitrogen and phosphate prices lower input costs for South African producers, and the expected Indian tender points to further urea weakness. The rand's weakness is a partial offset for imported product.
farmingportal.co.zaFarming PortalJun 2, 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.
