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Global urea prices have fallen since peaking in late February 2024, with Middle East granular spot values dropping from about $385/t fob to below $285/t fob within two months. Recent tenders in Indonesia and Qatar cleared at about $290 to $306/t fob.
Supply has become more assured while seasonal demand in the US and Europe wanes, and China is weighing a return to the global market.
Ample supply, weaker seasonal demand and a possible return of Chinese exports point to continued downward pressure on urea prices, which feeds into higher nitrogen input costs for feed grain producers.
profercy.comChris Yearsley2024/04/29過去の弱気な貿易イベント81件の後、尿素 は5営業日で中央値 -1.0% 動き（28% が上昇。中央50%は -7.2% から +0.4%）、20営業日では -5.5% 動きました。
イベント直前の終値からの各商品ベンチマークの動き。過去の傾向は同種の過去イベントをまとめたものであり、起きたことを示すもので、今後を示すものではありません。投資助言ではありません。
Published two days before the drop, it describes urea prices testing 2023 lows as supply becomes more assured and China weighs returning to exports; this bearish supply and sentiment backdrop could feed a sharp one-day decline.
Reports urea falling toward 2023 lows with Middle East granular down from $385 to under $285/t fob as supply improves, seasonal demand wanes and China weighs a return, which is the bearish backdrop for a sharp one-day drop.
