Australian trio takes step closer to establishing low emissions ammonia bunkering operations
The PWNI utilizes key nitrogen fertilizer prices to derive a value for nitrogen as a crop nutrient. 2009 is used as the base point for the Index, which provides a useful and straightforward tool to gauge the overall health of the World market for nitrogen fertilizers.
The prices are derived from the Profercy Nitrogen Report and include: prilled and granular urea; Urea Ammonium Nitrate Solution; Ammonium Nitrate; Ammonium Sulphate; and Ammonia (for direct application).
Key components
The prices used to formulate the index are published each week and include:
- Prilled Urea – $per tonne fob Baltic
- Granular Urea – $per tonne fob Egypt and Arab Gulf (full range)
- Ammonium Nitrate – $per tonne fob Black Sea
- UAN Solution – $per tonne fob Black Sea
- Ammonium Sulphate (capro) – $per tonne fob China
- Ammonia – $per tonne fob Trinidad
All solid prices are basis bulk. The prices chosen are considered the key and consistently available barometers of spot trade for seaborne tonnage. For example, for urea the Arab Gulf and Egypt are major areas of spot activity.
Product weighting
With the exception of ammonia, the weightings used by the PWNI are based on each products contribution to the World nitrogen trade. Urea has the highest weighting at over 60%.
Although largely regarded as an intermediate product, ammonia has been included as a component of the PWNI with its weight based on direct application in the USA. It holds a weighting of 10%.
The Profercy World Nitrogen Index is published every week through the Profercy Nitrogen Service, which offers daily news, weekly analysis and monthly forecasts.
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