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South African retail urea prices were flat week-on-week at R7,028 per tonne on Sept. 26, while MAP fell 1.7% and KCl fell 1.7%.
Urea prices continued to firm as an Indian tender drew buyers into the market. October product availability was becoming very limited.
Tightening urea availability after the Indian tender supports nitrogen prices globally, raising input costs for South African and other feed grain producers.
farmingportal.co.za27 sept. 2024farmingportal.co.zaFarming Portal27 sept. 2024Après 176 événements commerce haussier passés, Urée a varié en médiane de +0,1 % sur 5 séances (51 % de hausses ; moitié centrale de -1,3 % à +2,4 %), et de +1,6 % sur 20.
Variations du benchmark de chaque matière depuis la dernière clôture avant l'événement. Les lectures historiques regroupent les événements passés de même nature ; elles décrivent ce qui s'est passé, pas ce qui arrivera. Ceci n'est pas un conseil en investissement.
The India tender drew buyers in and limited October availability, which supports firmer urea prices going into the move, though the report is dated before the move and covers South African retail prices.
On Sept 27 it noted urea firming as an Indian tender pulled buyers in and October availability tightened, which is a demand and supply setup that likely carried into the Sept 30 move.
Urea was firming on the Indian tender with limited October availability, which set up tight supply and buying interest before the move, though it predates the window.
