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…

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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…

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Urea values continue rapid ascent as supplies remain limited, no signs of slow-down in sight

Global urea values have continued to race ahead and are yet to show signs of letting up. As the below table demonstrates, urea have significantly advanced since late August. With fundamentals in the nitrogen markets remaining strong, it appears there is no end to the increases for now. In the urea market, following its latest…

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Profercy’s World Nitrogen Index makes biggest ever increase to hit all time high

With values of urea and other nitrogen-based products once again making sharp increases, the Profercy World Nitrogen Index has made its largest ever weekly increase and hit an all-time high this week of 287.54, up 34.50 from last week. In the urea market, the price rally that begun in the west in early September has…

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