First quarter 2021 financial results released by both Nutrien and CF Industries this week have shown significant increases in their net earnings and EBITDA compared to the same period of last year. While sales volumes have declined at both producers compared to previously owing to lower production levels, the higher sales pricing for fertilizer products…
After five weeks of declines, global urea values have shown signs of stability of this week. However, fob levels are set to be tested next week with MMTC India holding a major purchasing tender for shipments into second half June. Profercy’s earlier coverage can be found here. Globally, business has been relatively slow. Chinese product…
MMTC announced the second Indian urea purchasing tender of the current campaign this week. The tender will close on 4 May and the shipment window will be almost seven weeks long, a comparatively lengthy amount of time. The previous RCF tender shipment window was only around five weeks. The long shipment window has been widely…
The Profercy World Nitrogen Index has fallen lower this week, although the losses have not been as vast as in recent weeks, with urea values mixed across the different regions. Values in the east have held, while latest North African business saw lower fob prices in the west. Market participants continue to await an announcement…
Yara’s revenue and other income during the first quarter of this year saw significant increases, climbing to $3.14bn versus $2.85bn in Q1 2020, the company announced in its Q1 2021 results today. The producer’s net income was at $14m. during the first quarter of this year, versus a net loss of $119m. during the same…
The Profercy World Nitrogen Index has made the biggest loss of the year this week, tumbling by over 7 points as urea values continue to deteriorate across the global market. With no confirmation regarding when the next Indian tender will take place and for what volume, and with peak seasonal demand from the west over,…
The Profercy World Nitrogen Index has declined for the third week in a row as urea prices continue to soften in most major regions this week. Having made rapid gains since the beginning of the year and in the run up to spring application in western markets, the Index has now fallen by over 10…
After weeks of consistent increases, the Profercy World Nitrogen Index has dropped 3.06 points to 181.47 this week, the first decline seen this year owing to softening urea values, particularly in the east. Activity in the global urea market has been muted for the most part, with participants awaiting the outcome of India’s urea purchasing…
Acron increased output of key products by 7% year on year in 2020 to 7.98m. tonnes. Total sales were also up, 3% year on year to 7.81m. tonnes, with the remainder captive product. This allowed for total revenue to increase 4% year on year in local currency to $1.66bn equivalent. Of note, currency fluctuations meant…
After more than three months since India’s last urea purchasing inquiry, the world’s largest urea importer announced a fresh tender late last week. The country’s state purchasing agency RCF is set to close the tender on 22 March for shipments to 28 April. For the most part, activity in the urea market was muted this…