Nitrogen
Overview
The ease of urea availability east and west of Suez has shaped the current trade flows of this key nitrogen fertilizer. Despite challenges posed by energy prices and military conflicts, key import markets such as India, Australia, and Latin America remain robust. But structural oversupply and the role of China as a swing exporter have led to price volatility as this fast-moving market seeks equilibrium, more so during seasonally high-demand periods.
Our extensive nitrogen coverage includes prilled and granular urea, UAN, ammonium nitrate, and ammonium sulphate. Argus has many decades of experience covering the nitrogen market and incorporates our multi-commodity market expertise in key areas including ammonia and natural gas to provide the full market narrative.
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Latest nitrogen news
Browse the latest market moving news on the global nitrogen industry.
Some rain in Thailand, urea demand lagging, prices drop
Some rain in Thailand, urea demand lagging, prices drop
Amsterdam, 14 May (Argus) — Recent rainfall in Thailand has yet to prompt a rise in urea demand, with buyers waiting for the delayed monsoon towards the end of the month, while distributors have cut prices in a bid to clear stocks after an import surge in the first quarter. The rains have arrived in Thailand after a period of dry weather from mid-April and distributors are anticipating an uptick in demand from local buyers, probably in June after the onset of the monsoon. But current rainfall has yet to translate into a rise in purchases. Distributors have cut retail prices by 300-500 baht/t ($8-14/t) in an attempt to reduce inventories of higher-priced product from March-April. Prices for urea in branded 50kg bags are around Bt15,000/t equivalent, with ex-warehouse levels down to around Bt13,000/t. Indications for imports have slipped to $310-320/t cfr, with Middle East product at the low end and southeast Asian material at the high. Urea imports soared to 722,000t in January-March, an 84pc rise on the year, with importers jumping back into the market as international prices rose from a bottom at the end of December. Thai imports averaged 331,000t in January-March 2021-23. The rainy season is expected to begin in the week starting 27 May, one to two weeks later than in a normal year, according to the country's meteorological agency. The rainfall forecast is expected to be close to normal and similar to 2023. But rainfall in the second half of the rainy season, August to the end of October, is projected to be 5pc higher than in a typical year. Thailand is one of the largest urea destination markets, usually receiving 2.2mn-2.5mn t/yr, offering producers a key outlet towards the end of the second quarter. Imports typically peak in May-July ahead of the monsoon season, which runs to October. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Floods to sow chaos for Brazil’s South logistics
Floods to sow chaos for Brazil’s South logistics
Sao Paulo, 9 May (Argus) — Unprecedented floods in Brazil's southern Rio Grande do Sul state are expected to create even more chaotic logistics situation in the country and could cut fertilizer usage for 2024-25 soybean crop in the state. Heavy rainfall has hit the state since 29 April, culminating in the worst floods ever registered in Rio Grande do Sul. The floods have reached the central part of the state, closing the ports of Pelotas and Porto Alegre, which both handle agricultural commodities, including grains, oilseeds and fertilizers. The high waters are expected to move south, reaching Rio Grande port. The three Rio Grande do Sul ports handled about 44.8mn metric tonnes (t) in 2023, with the larger Rio Grande port accounting for at least 42.6mn t, according to port data. The state's geographic layout and a particularly narrow channel for floodwaters to reach the sea suggests the worst is yet to come in the southern part of the state. Water levels are about to increase in the Lagoa dos Patos, a lagoon that receives water from many rivers and flows to the Atlantic Ocean. But operations are running normally in the Rio Grande port as of 9 May. The national association of cereal exporters Anec project that 343,250 t of soybeans and 131,778 t of soymeal will be shipped in the week ended 11 May, according to port schedule data. Shipments between 28 April and 4 May — which account for the days where rainfall reached its peak and the state began to flood — totaled 183,559t and 133,424t for soybean and soymeal, respectively. Lineup data from maritime agency Williams predicts that soybean exports may total 838,600t, nearly doubling the volumes from the forecast a week ago. The estimated average waiting time for shipping rose to just three days from the two days projected on 29 April. The Rio Grande port was the fifth largest soybean exporter in 2023, with 3.8mn t shipped last year, according to the National Waterway Transportation Agency (Antaq). Waiting time for discharge fertilizers is at around one day, unchanged from the previous week. Rio Grande port was third in terms of fertilizer import volumes in the first quarter 2024, according to lineup data from maritime agency Unimar. Paranagua, in Parana state, received 2mn t of fertilizers, followed by Santos port and Rio Grande, with 1.9mn t and 990,640t, respectively. Lineup data for May and June suggest that Rio Grande is about to receive 540,900t and 66,375t of fertilizers, respectively. Vessels lined-up for Rio Grande may be diverted to other ports, specially for Sao Francisco do Sul, in Santa Catarina state, and Paranagua according to market participants. Even if fertilizer volumes would be discharged as initially planned, the flow to agriculture producing areas would be compromised. The main access to the port, the BR-116 roadway, is already partially blocked, hampering truck flows in the state. Drivers have already been searching for short-stretches to move goods, as long-stretches force them to look for longer alternatives, considering there are around 88 partial and full road blockages in the state as of 9 May. Logistics company Rumo also partially interrupted operations in Rio Grande do Sul state on 6 May. The company has a grain terminal in Rio Grande port and a rail network of around 7,220km in Brazil's South region, which includes Rio Grande do Sul, Santa Catarina and Parana states. Fertilizer companies that operate in Rio Grande do Sul are reportedly trying to move their product to warehouses away from the rivers. Considering the agricultural production, volumes that had already been sowed and were in silos are now soaked. With more damage expected to be measured farmers in Rio Grande do Sul may be discouraged from investing in technology and fertilizers for the upcoming 2024-25 soybean crop. More rain forecast for the weekend Brazil's national meteorological institute Inmet expects rainfall to intensify once again in Rio Grande do Sul starting this Friday between the state's center-north and west portions. Rain levels are expected to subside by 12 May, but may surpass 100mm before then. The coastal areas in the north regions and south of Santa Catarina state are also expected to be affected, according to Inmet. By Renata Cardarelli and Nathalia Giannetti Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US amsul imports reach record high in March
US amsul imports reach record high in March
Houston, 8 May (Argus) — US ammonium sulfate (amsul) imports reached a record high in March, bringing importsfor the current fiscal year to date to record high levels as well. US imports of ammonium sulfate reached 171,200 metric tonnes (t) in March, according to the latest data from the US Census Bureau. Monthly imports in March topped the previous record high set in February by 2,300t . Volumes in March 2024 were double the March average of the past 10 years. Year to date imports during the 2024 fiscal year — which runs July-June to track the fertilizer crop year — through March reached 824,000t, up 75pc from the year prior. Offshore imports arriving at Nola in April are currently estimated at nearly 51,100t, according to bill of lading data. Amsul supply has been short this spring, caused by several production outages beginning in January](https://direct.argusmedia.com/newsandanalysis/article/2531726). Prices have remained elevated for amsul because of limited supply, while other nitrogen fertilizers have been on the decline in recent weeks. Recent imports were priced at $407.5/st fob, compared to year-ago levels of $327.5/st fob. By Meghan Yoyotte US ammonium sulfate imports ’000t Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Pakistan's ECC approves urea imports of 200,000t
Pakistan's ECC approves urea imports of 200,000t
Amsterdam, 8 May (Argus) — Pakistan's Economic Coordination Committee (ECC) met on 7 May and has approved the import of 200,000t of urea for the Kharif summer season. The ECC did not disclose an exact timeline, but a tender will have to be issued shortly if the imports are to meet demand in Kharif, which runs from April to September with demand peaking in June-July. Pakistan occasionally enters the import market to plug supply gaps in key consumption periods. State-owned importer TCP previously agreed a deal with Azerbaijan's state-owned Socar in early December last year to source 200,000t of urea for arrival by 20 January. Domestic supplier Engro began maintenance at its 1.3mn t/yr granular urea Enven plant towards the end of April and is expected to return to production in mid-June. Pakistan's urea inventories started April at around 170,000t, but are set to be under significant pressure in June-July, data from the country's national fertilizer development centre (NFDC) show. Demand is set to hit over 800,000t in June and around 650,000t in July, outstripping typical domestic output of 520,000-555,000 t/month in the peak summer months. This has prompted the need for imports, given current stock levels. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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