Profercy World Nitrogen Index
Profercy’s Nitrogen Index utilizes key global nitrogen fertilizer prices to derive a value for nitrogen as a crop nutrient. The Index provides a useful and straightforward tool to gauge the overall health of the World market for nitrogen fertilizers.
For the latest detailed market analysis on global urea, ammonia, nitrates and ammonium sulphate, you can sign up for a no-obligation trial of the Profercy Nitrogen Service. To do so, please click here.
| Market Status: Stable | Week 30 – India struggles to secure urea in latest tender, spot values edge lower but met with supplier resistance
The Nitrogen Index registered a 2.46 point gain, reversing the declines of the last two weeks. The advance is primarily a consequence of moderately firmer urea values in the US Gulf, as well as significant price gains in the ammonia market. With regard to the latter, supply uncertainty in North Africa provided a foundation for price gains West of Suez. This notably included a $60pt in the Tampa contract price for August. Further analysis is available here. Urea values have trended sideways, although those suppliers still holding August have struggled to solicit interest of late. Lower fob values have been in evidence in Nigeria and Algeria. Producers in North Africa are seeing no demand from the offseason European market. In the east, lower granular values have been noted in SE Asia. With China absent, buyers targeting small volumes of prilled urea have been paying major premiums for the product. Basis last done and recent offers, prilled urea values in SE Asia are $28pt above those for granular. For a detailed overview of the latest developments in global nitrogen markets, as well as the latest regional market analysis and price assessments, you can receive a free trial of the Profercy Nitrogen Service. |
The Index is updated each week. An overview of the methodology can be found here.