Loading…
Urea prices rose sharply at New Orleans and in Brazil after India issued an unexpected tender on September 4. NOLA urea firmed to $423-450/st FOB from $335-360 the previous week, and Brazilian imports rose to $450/mt CFR from $370-375.
The tender followed a notice from Chinese authorities that they would limit urea exports.
A new Indian tender combined with Chinese export limits tightens near-term supply and lifts global urea import prices, raising nitrogen costs for feed and grain producers.
genesisfertilizers.comCaitlinSep 6, 2023After 176 past bullish trade events, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% 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.
India's unexpected urea tender on Sept 4 and China's export limits triggered sharp price jumps at NOLA and Brazil, matching the timing and size of the one-day move.
India's unexpected September 4 tender and the Chinese export limit notice lifted NOLA and Brazil urea prices sharply, which matches the move through demand and trade flow; the report is dated after the move but describes events before it.
