ChemAnalyst

Urea prices are currently at record levels, owing to cost support from upstream Natural gas and Coal, driving the price trend upward. Following the incursion of Ukraine, Urea markets, particularly west of the Suez Canal, saw a rise, spurred by rising gas prices and supply uncertainties.  Russia is the world's largest fertilizer exporter, but its conflict with Ukraine has hindered shipping and raised natural gas costs, a significant element in fertilizer production. Since the invasion began, Urea fertilizers futures have increased by 32% globally. The prospect of shipments being disrupted comes as fertilizer costs have already been rising because of higher upstream values, which have led some factories to suspend or limit production. As crop costs rise, the jump in the nutrient is fuelling fears of rising food inflation. Rising inflation in the United States has also weighed on the Nitrogen fertilizer prices. FOB   Corn Belt prices have remained in a range of USD 1,350 – USD 1...

The Fertiliser market in China began to improve as the Chinese New Year comes to an end. Since the beginning of 2022, demand for urea, one of the most important fertilisers, has been strong. After New Year's Day, the demand for local stockings led Urea prices to surge. As the activities of Urea firms quickly resumed, the market began to rise. In addition, as the spring farming season began in March, the price began to fluctuate slightly. For the current week, the FOB price of Urea is USD 474 per tonne, according to the ChemAnalyst database. Urea prices have risen as daily Urea output has decreased in February, with a decline in output in Shanxi, Hebei, Inner Mongolia, and Xinjiang being the primary cause of the progressive reduction in daily output. Furthermore, due to a paucity of natural gas resources around the world, coal and natural gas prices have continued to rise. Certain coal-based urea industries in North China have restricted production due to the Winter Olympics.  Wit...