Following the abrupt withdrawal of prices last week, as expected, suppliers are now returning to the market. That said, everything remains on a “withdrawal without notice basis”.
Quick to not miss an opportunity, the Egyptians raised their urea global prices simply “because they could”, and this shot over previous high levels. Russia is a serious exporter of fertilizers to other parts of the globe and the threat of sanctions has meant that prices are more volatile than before.
However, CF have returned today; typical price of Nitram £655/tonne for March (with all the load size rules again), Imported AN is available for March ~ £640/tonne; a limited range of complex compound NPKS are there too, with urea back into the £750’s range.
Yara spring fill prices have been issued if anyone has interest but Omex have not made any offers yet.
TSP and MOP are a concern; the MOP issue was already problematic with previous sanctions against Belarus; now more so. The Canadians, who are the biggest potash producers in the world, feel able to step in to breach production gaps but my opinion is that these prices have the potential to go up. TSP, is a little flat, but not easing back.
DAP, this is in short supply; the vessel that’s arrived can’t yet dock because of the Russian situation.
The fertilizer trade is reporting that farmers have been back to the market simply for fear of the “what if” scenario. You may have seen the article in the last Sunday Times regarding CF and whether they intend to continue production at Billingham; their offer of today extends to March only.
I would ask you to let us know if you are going to need products for March, April and May simply so that we can contact you. Please email to [email protected].
We will update you as we can; but please do give some thought to cover for March – May.
Thank you for your continued support.
Fertilizer Sector Head