Views: 5 Author: Site Editor Publish Time: 2022-11-22 Origin: Site
India is the only big buyer with sufficient international supply
Urea prices fell again this week, as sellers generally succumbed and cut prices to ensure sales.
It is not surprising that India's bidding is calculated at the direct price (573-578.77 USD/ton CFR), but it is unexpected that the lowest price is set by the manufacturer rather than the trader.
In most other import markets, supply liquidity is low.
In Europe, only a few transactions have been confirmed, and the price is steadily declining - $585-605/ton CFR duty-free/paid. The situation is similar in Brazil and the United States, with the price falling to 550-555 dollars/ton.
Therefore, compared with the last tender, manufacturers are queuing up to sell more products to India.
Procurement tonnage in India
Among the goods shipped in December, there is still a long time to go. In any case, the tonnage purchased by India will lay the foundation for trade in the coming weeks.
The weak freight market is driving down CFR prices and narrowing the price gap between manufacturers and traders in different markets.
30-60 day outlook
The demand for agricultural products in Brazil is rising, as is the demand in the United States and Europe (the major importing regions) If demand comes soon, this may support the current level. However, in a well supplied market, producers are still vulnerable to demand delays.