In the Middle East and Africa (MEA) area, the pricing dynamics of Urea during the fourth quarter of 2023 were being influenced by diverse things. The Urea industry initially exhibited bullish sentiments for the very first two months but transitioned into a downward trajectory as December approached. The price surge in the First section resulted from supply shortages, with An important Urea producer decreasing output rates. International Urea need enhanced throughout this period, particularly following China restricted fertilizer exports, contributing to an upward development. In November 2023, the Middle Eastern sector faced worries because of factory system failures, partial sales stoppages, and constrained offer.
For The 1st time in December, US Urea prices reached USD 728 for each ton FOB Cornbelt. Local factories and downstream customers ended up place under pressure by mounting feedstock Ammonia prices due to growing natural gasoline prices. Price increases had been also aided by offer constraints within the United States at the conclusion of the quarter.
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Feed Length: Up to two months
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The price of Urea in the US industry ongoing to lower throughout the fourth quarter as a result of sharp drop in the cost of raw materials. In the wake of unfavorable buying and selling fundamentals and muted desire, the Urea price continued to say no. Based on the statistics, feedstock natural gas prices fell by all over 15% in November 2022, and this pattern ongoing into December. Manufacturers were able to supply bargains to entice offtakes from downstream niche consumers as a result of the autumn in feedstock expenditures, which had an national fertilizer company saudi arabia influence on pricing designs in key importing nations around the world like India as well as the USA.
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