International Urea Market
Publish Time: 2021-03-04 Origin: Site
Freight is the main topic this week. the current freight from the Middle East to Brazil is $38-40/ton, twice at the beginning of the year. The volatility and uncertainty are hindering sales.
Prices in Egypt and US were increased, in other regions remained stable. Egypt is benefiting the strong demand from Turkey, while the US needs large amount of granular urea. After the closure of natural gas-related, US factories are restarting, however more imports are needed.
In other regions, the demand for 2021 is very favorable. Due to attractive prices, global food cultivation is expected to increase. It all depends on the weather, but optimism is still everywhere.
Agricultural demand: wheat and corn are in high side, leading the increased planting expectations in the US, Brazil, China, Europe and AU.
US: Increased 100,000-150,000 tons on the import requirements in March-April.
Freight: The supplier is give up a lower fob price to compensate higher freight. The increased cfr price will lead to the result.