Last week’s decline in urea offer prices significantly spurred purchasing activity in Egyptian ports, allowing local producers to sell at least 80,000 t of granulated fertilizer with Jan shipment within the price range of $535-565/t FOB.
After a series of deals signed at $725-730/t CFR India last week (due to long delivery, particularly from Russia, and probably only to replenish stocks), purchasing activity has slowed down on the Indian phosphorous fertilizer market, but there is still some activity in the country.
The Freeport of Riga processed almost 2.2 million tonnes of cargo in November, that is 412,000 t above the volume recorded in October.
The cargo turnover decreased by 49,000 t to 641,000 t in Liepaja SEZ in November compared with October.
One of the Middle Eastern producers signed the deal for the supply of 40,000 t of granular urea with shipment in late December at $490/t FOB Middle East. Thus, since last week, the estimated fertilizer price for non-US markets has dropped by $59/t on average in Middle Eastern ports.
The Indian phosphorous fertilizer market is still showing higher activity than those in other regions: local importers continue to buy DAP, but at a lower price (following government recommendations), which does not exceed $730/t CFR India.