Farming News - Fertiliser Report -urea market remains firm

Fertiliser Report -urea market remains firm

22 Nov 2010

The Urea market remains firm and prices have climbed again in all production areas with the primary reason being supply/demand.
A new Indian tender and the Chinese export taxation, likely to be brought forward to December 1^st, will mean international supply will continue to tighten.
Prices are now at levels not seen since October 2008 and are set to move higher in the months ahead.
In France, Yara have delayed the restart of its 500,000 tonnes/year AN plant in Ambes with rumours now circulating this will stay on shutdown until Feb/March.
In the UK, GrowHow and Yara are not releasing new terms for December and January but instead they are watching the increasing international market with interest.
The Canadian government has finally rejected the bid by BHP Billiton for Potash Corporation. Elsewhere potash prices remain firm as other producers increase prices.
International Phosphates are still seeing sustained steady increases as buyers in southern hemisphere markets such as Australia, Brazil and Argentina continue to buy forwards.