Home page » News » Urea Price Trend

Urea Price Trend

Urea price trend (autumn 2018)

In the second half of 2018, urea prices continued to rise on the global market. The main driver of the price increase was a sharp reduction in exports from China — over 3 quarters, exports fell by almost 70% (1.1 million tonnes instead of the 3.5 million tonnes previously supplied). Within China itself, due to rising costs of key raw materials, the export price for urea reached around $300.

In May the average world price was $215, and in March $230. By July it had already reached $270 per tonne.

In October, prices rose further due to an Indian tender for urea purchases. US sanctions imposed on Iran also played a role, to some extent, as Indian companies became wary of buying urea from Iran. As a result, the delivery cost for India exceeded $350 per tonne.

Further price increases are expected right through to spring 2019, ahead of the coming sowing season in the Northern Hemisphere.

At the same time, the rise in urea prices has also driven up the cost of other nitrogen fertilisers. For example, ammonium nitrate prices rose by 28%.

Previous urea price forecast (summer 2018)

• ← Go back