PWNI hits new all-time high as market continues to react to lack of Russian urea

The Profercy World Nitrogen Index (PWNI) has hit a fresh all time high this week, climbing above 455 points as the lack of Russian supply continues to be felt across the global urea market. The impact of self-sanctioning by many traders and importers in the west has resulted in very minimal business from the Baltic…

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Global urea values rally as market reacts to Ukraine war

Global urea values have soared this week as market participants react to the war in Ukraine. While recent sanctions on Russia have not directly impacted the fertilizer sector, this unprecedented situation has sparked a renewed demand amongst buyers due to significant concern around supply disruptions from Russia. Many are now willing to accept the higher…

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Profercy World Nitrogen Index gains with urea fob values advancing following events in Ukraine

Urea fob values rapidly advanced in some regions this week, with concerns growing amongst market participants over supply disruptions from Russia in the event of further sanctions being placed on the country. Russian urea exports last year were at 7m. tonnes, representing just under 14% of global trade, significant enough to spark a reaction in…

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Urea values wane as global market seeks direction post Indian tender

Following its purchasing inquiry last week, India’s IPL issued LOIs and went on to secure just under 1.4m. tonnes of urea for February and March shipment. Despite China still being out of the export market, India nonetheless managed to secure major volumes in line with its pre-tender target as suppliers. However, even with India absorbing…

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Profercy’s World Nitrogen Index descends further as urea values continue to plunge

The Profercy World Nitrogen Index has continued its sharp descent this week, shedding 16.25 points to 387.16. The Index has now lost around 56 points since the beginning of the year. With urea values declining rapidly, buyers have stayed out of the market, cautious not to book product until absolutely required or until there is…

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