Rise in nitrogen fertiliser prices is short-term, says Yara

Yara says nitrogen fertiliser prices, which have risen more than €60/t over six months, are partly driven by lower Chinese urea output after coal-cost increases and production cuts. Chinese urea exports fell 36% in 2016 to 8.9m tonnes and are forecast to fall a further 15% to 40% in 2017.

Yara expects rising global capacity to pull prices lower later in 2017.