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Fertilizer Market Report –December 4, 2024
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Fertilizer Market Report – December 4, 2024
In this week’s fertilizer report: Chinese Phosphate Exports Banned Beginning December 1; Urea Prices Rebound in Egypt While India Draws Product from Nigeria; Canadian Dollar Slumps After GDP Report Underscores a Slowing Economy; Last Week’s North American Urea and Phosphate Action; and Other Industry Tidbits.
News of the Week
Chinese Phosphate Exports Banned Beginning December 1
In our view, this news will help support phosphate prices globally.
As reported by Profercy:
The halt in exports comes as domestic DAP/MAP prices surge in China due mainly to jumps in raw material prices, particularly sulphur. Domestic DAP prices are now at CNY3,750-3,800pt exw (US$517-$524/mt), with the high end reflecting as much as a US$40/mt rise through November. Despite the gains, latest DAP prices are still as much as US$90pt below the return from exports.
Post | LinkedIn
Urea Prices Rebound in Egypt While India Draws Product from Nigeria
Update from Profercy on global urea markets:
The urea market lived up to its reputation for turbulence and volatility this week with major price swings evident in North Africa.
At the same time, the latest purchasing tender in India reset eastern spot values with Indian Potash Limited (IPL) making light work of securing 1m. tonnes for shipment to end-December.
Urea prices rebound in Egypt while India draws product from Nigeria
Canadian Dollar Slumps After GDP Report Underscores a Slowing Economy
The Canadian economy grew at a 1.0% annualized rate in Q1, which was in-line with forecasts but a further drilling down in the data highlights a troubling trend. GDP was flat in August, then grew just 0.1% in September and the advance estimate for October was +0.1%.
Canadian dollar slumps after GDP report underscores a slowing economy
North America Urea Last Week
According to Green Markets, the urea price range in Western Canada widened to C$680- $700/mt from $695-$700/mt the previous week. Green Markets also reported that 2Q 2025 delivered urea offers in Western Canada were seen at C$715-$725/mt.
Last week, the NOLA urea price range increased to US$309.50-$315/st from US$307-$314/st the previous week.
As reported by Direct Hedge, the week started with urea Nola spreads of US$305/st bid and US$315/st offer for November. December was quoted at US$310/st bid and US$320/st offer. January was US$315/st bid and $325/st offer and Q1 was US$320/st bid and US$330/st offer.
North America Phosphate Last Week
According to Green Markets, the latest delivered Western Canada MAP price range tightened to C$$1,145-$1,160 from a range of C$1,125-$1,160/mt.
MAP NOLA prices settled in a range of US$610-612/st, down from at US$618/st the previous week. Trade has been slow as the market attempts to find the value in relatively expensive phosphate prices.
Industry Tidbits
- Global Urea Market Update: Husein Murad Post | LinkedIn
- Former negotiator urges calm on tariffs
- Grim outlook for new crop
- The biggest threat to farms today isn’t just weather or market fluctuations—it’s the cost of production.
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