In Egypt, the granular urea market was showing increased consumer activity earlier this week. Producers were selling the fertilizer at $375-455/t FOB for shipments in September. In the mid-week, however, buyers have been showing less interest due to the rapid price increase to $460-470/t FOB.
In Latin America, demand for phosphates remains low, with prices for Russian and Moroccan-made MAP hovering within $530-540/t C&F Brazil.
Stevedores of the Riga Freeport processed 1.3 million tonnes of various types of cargo in August (down 92,000 t compared with July).
The Liepaja SEZ increased the cargo turnover by 10% month-on-month or by 45,000 t to 504,000 t in August.
After a three month decline, the Port of Klaipeda managed to increase the cargo turnover by 505,000 t to 3.5 million t in August. The Klaipeda State Seaport stepped up transshipment of goods by 332,000 t to 2.7 million t in August compared with July.
A total of 1,400 wagons including 229 wagons with sunflower oil, 278 wagons with cakes, 345 wagons with ore and 103 wagons with metals were moving to the Izov station on August 30.
The total cargo turnover of the Port of Klaipeda decreased by 395,000 t to 3 million t in July compared with June.
This week, importers’ demand for phosphates has decreased in Brazil. Only customers applying fertilizer for soybeans may be interested in purchasing MAP with shipments in August and early September. The next wave of purchases is expected for the second application (for corn) starting in February 2024.
The global urea market has featured the approval by the Indian IPL to purchase 1.76 million t of urea at $396-399/t C&F for shipments to the east and west coasts of India by September 26. About 1.1 million t of this volume will be shipped from China, 350,000-400,000 t from the Middle East