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Upward outlook for global Urea

Upward outlook for global Urea
In the third quarter of 2020, Urea prices rose about 12%, while in May it reached the lowest level in three years. One of the main reasons for the price growth in late 2020 was the increase in cost prices, in particular, consumables like energy.

In the third quarter of 2020, Urea prices rose about 12%, while in May it reached the lowest level in three years. One of the main reasons for the price growth in late 2020 was the increase in cost prices, in particular, consumables like energy. The price of some energy indicators has almost doubled since May. Prices for anthracite coal and bitumen, the main feedstock for urea production in China, have risen in recent months. The price of natural gas, which is the feedstock for urea production outside China, has returned to pre-COVID19 prices, which prompted price increases. 

Rainfall conditions have improved for major fertilizer-consuming countries which led to rising energy prices and fertilizer prices especially urea. For 2021, the price increase for phosphate and urea has been predicted, the growth of Urea prices will be stable in the range of 3%, which will raise the average price in 2021.

Jan 2, 2021 16:22
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