Urea

Urea prices fell to below $550 per tonne in January, the lowest in 15 months, as concerns about shortages eased. The increased availability of natural gas in Europe amid a moderate winter and abundant LNG imports allowed manufacturers to restart production with significantly lowered input costs, allowing farmers to restock concerningly low fertilizer reserves. In the meantime, major importer India scooped up Russian fertilizers at discounted prices after the Kremlin snubbed export to Europe, freeing up supply from the Middle East to Eurasia. Previously, shortages of energy feedstock in Europe drove fertilizer manufacturers to shut down or operate well below capacity, risking shortages and sending urea prices to a record-high of $1050 per tonne in April. Supply was also jeopardized by the partial suspension of imports from major producers Russia and Belarus.

Historically, Urea reached an all time high of 1050.00 in April of 2022. This page includes a chart with historical data for Urea. Urea - data, forecasts, historical chart - was last updated on January of 2023.

Urea is expected to trade at 470.88 USD/T by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 411.53 in 12 months time.