Profercy World Nitrogen Index makes first decline in 15 weeks as urea demand slows down

The Profercy World Nitrogen Index has this week fallen by 1.23 points to 448.34, the first decline made by the Index in nearly four months. The global urea market has been faced with dwindling supplies since early September. Cutbacks to domestic production earlier this year in the US were further amplified following the aftermath of…

The road to Russian export quotas that hit ammonium nitrate, left other nitrogen products unscathed

The Russian export quotas, confirmed at the end of November for nitrogen fertilizers, have in effect only targeted ammonium nitrate. On 3 November, the Russian Prime Minister, Mikhail Mishustin, announced on state-owned television that temporary export quotas on nitrogen fertilizers will be introduced for a period of six months. At the time, Mishustin said that…

PWNI advances further as latest Indian urea inquiry absorbs December availability

Following the conclusion of its latest purchasing inquiry, India’s IPL has this week secured 1.6m. tonnes of urea for shipment by 31 December. By offering substantial premiums to netbacks from other markets, India has managed to attract the bulk of the remaining spot availability there is in the market for December. In the latest tender,…

India announces back-to-back tenders as urea tightness continues to be felt globally

India has this week announced two new purchasing inquiries, within days of the conclusion of the latest producer-only tender that resulted in only 465,000t of urea being secured by the country. With the world’s largest urea importer desperately behind on purchases for this season, it has had no choice but to pay high prices for…

Russia announces nitrogen export quotas just below average levels to secure domestic supply

With great pomp, the Prime Minister of Russia, Mikhail Mishustin, on 3 November announced on state-owned television that temporary export quotas on nitrogen fertilizers will be introduced for a period of six months. The export quota for nitrogen fertilizers was set at 5.9m. tonnes and will come into force from 1 December, meaning November shipments…