Globally, the price of urea is starting to collapse in many markets, particularly US & Brazil as sellers lower prices to try and stimulate buying; some reports in the US indicated prices back to September 2021 levels. However, in the UK prices remain elevated and, as international markets are falling away, to import more product now would be foolish. Activity within the UK for urea has been slow since the start of the New Year; ADM reduced their price to attempt to gain sales to create space for an arriving cargo. The light upon the horizon is that if urea continues to fall in coming weeks & months, this will eventually have to feed into Europe’s nitrate markets would be my thought on this.
Slowly, the grassland market is coming to life and, during last week, many of the CF grassland grades went sold out although Yara grades and blended options remain. Nitrogen sulphur fertilizers from CF are unavailable but Yara and imported compounds such are back in the market.
The UK supply trade is indicating that sales of P & K are down to circa 40% against a typical year; unsurprising with the current prices. Phosphate prices for the UK seem fairly stable however, Potash remains more volatile on the back of sanctions with Belarus.
Over the last week, I have been working through the outstanding requirement forms; thank you to all who have replied. It is my intention to start closing these enquiries down where they appear to be no longer needed.
Thank you for your continued support.
Fertilizer Sector Head