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.
Argus support market participants with:
- Daily and weekly nitrogen price assessments, proprietary data and market commentary
- Short and medium to long-term forecasting, modelling and analysis of urea prices, supply, demand, trade and projects
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Latest nitrogen news
Browse the latest market moving news on the global nitrogen industry.
Middle East urea price under pressure
Middle East urea price under pressure
London, 25 March (Argus) — Urea prices in the Middle East have trended down, with granular urea falling to around $370/t fob and below. Indications for granular urea prices have slipped to around $370/t fob Middle East and below, with bids heard this week at $360/t fob for April-loading cargoes, down from $375-385/t fob last week. The dip is in line with the latest sale from southeast Asia — Indonesia's Kaltim concluded 45,000t of granular urea at $377.50/t fob Bontang for loading next month in a 21 March tender . Southeast Asian urea typically holds a premium to Middle East product given the freight differential to Australia and other regional markets. Falling prices from Egypt, which enjoys a 6.5pc duty advantage over Middle East urea to Europe, not to mention a clear freight advantage, have also weighed on Middle East prices. Argus assessed granular urea at $369-373/t fob Egypt to Europe on Monday, with unconfirmed reports of business at $365/t fob today. A delayed tender issuance from India, with expectations initially appearing in early February, and the restart of Iranian urea production this month — after outages since December — have hit market sentiment in March. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Henan XLX, Liven tie up to supply fertilizer to SE Asia
Henan XLX, Liven tie up to supply fertilizer to SE Asia
Singapore, 25 March (Argus) — Chinese fertilizer producer Henan Xinlianxin International Trading and Singapore-based trading firm Liven Nutrients have partnered to distribute urea and NPK fertilizers to southeast Asia from Henan Xinlianxin's new fertilizer production plant in Guangxi province. Xinlianxin's fertilizer unit in Guangxi is expected to be fully completed by 2027. The unit will produce both NPK and urea fertilizers. Phase 1 of NPK production at the site has started, with the plant producing around 300,000 t/yr of NPK fertilizers currently. Urea production capacity is expected to come on line in 2027. Fertilizers produced at Xinlianxin's Guangxi unit are targeted for export to southeast Asia. The firms will use multiple transportation channels including waterways, railroads and roads. The expected opening of Vietnam's new Binh Lu Canal in late 2026 will further enhance connectivity between Guangxi and northern Vietnam, especially for container shipments. Transportation between Guangxi to other southeast Asian countries currently takes a few days. Henan Xinlianxin is a Chinese fertilizer manufacturer with major production bases in Henan, Xinjiang, and Jiangxi provinces. The company's total NPK production capacity averages around 4.4mn-4.5mn t/yr, with around 4mn t/yr of urea production. By Dinise Chng Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Global fertilizer affordability drops to 2½-year low
Global fertilizer affordability drops to 2½-year low
London, 24 March (Argus) — Global fertilizer affordability has dropped to its lowest in two and a half years, driven by firm phosphate and potash prices, while crop values have dipped to the lowest since 2020. Nutrient affordability fell to 0.82 points in March, the lowest since November 2022, Argus data show. An affordability index — comprising a fertilizer and crop index — above one indicates that fertilizers are more affordable compared with the base year set in 2004. An index below one indicates lower nutrient affordability. The index has dropped owing to higher fertilizer prices for phosphates and potash, which were partly offset by a decline in urea prices. Crop prices have fallen for all major grains and oilseeds on trade tensions. Phosphate prices were supported by competing demand for limited supply. The absence of Chinese product from the global phosphates market since late 2024 has kept supply tight. Additionally, a lack of clarity surrounding China's return to the export market, while firm sulphur and sulphuric acid costs force domestic DAP/MAP prices higher, has prevented any softer sentiment in the region. Competition between India and Ethiopia has driven DAP demand east of Suez. A significant decline in stocks in India by the end of its high season forced buyers to remain in the market during the off season. This coincided with Ethiopia switching to import DAP from NPS from the third quarter of 2024, seeking over 1mn t of the product across regular tenders. Re-emerging interest from Latin America, and with China still out of the market, has allowed suppliers to raise MAP prices, while US DAP/MAP barge prices are firming again ahead of spring applications. On potash, MOP prices have been on the up this year, also driven by tight supply. Belarus' Belaruskali began major works at its fourth mine in January, which will reduce exports of white MOP by around 1mn t in the first half of 2025. In February, Uralkali announced that it will undertake maintenance in the second quarter that will cut its MOP output by around 300,000 t/yr, further cementing the stronger market sentiment. It also said it will push more product — at least 400,000t of MOP — to the domestic market in 2025. Canpotex also confirmed that it is fully committed for the first half of this year, while uncertainty over tariffs on US imports of Canadian imports also drove up sentiment. MOP prices have been particularly low compared with other key nutrients, specifically phosphate and nitrogen products. And expectations that MOP prices are likely to rise further have encouraged buyers to step into the market earlier and for larger amounts than normal as affordability remains healthy. Urea prices have fallen steadily in March, after hitting 16-month highs in mid-February. The combination of a delayed tender issuance from India, with expectations initially appearing in early February, and the restart of Iranian urea production this month — after outages since December — have weighed on sentiment following a price rise since early December. The lack of a tender in India has enabled US importers to build the line-up for the spring season, releasing pressure on buyers for March-loading cargoes. And a lack of spot import interest in urea from Australia, which appeared earlier than usual in the first quarter of last year, has yet to tighten the balance significantly east of Suez. On the other hand, crop prices for corn, wheat, rice and soybeans have fallen sharply in March, with the crop index — which includes global prices adjusted by output volumes — dropping to the lowest since August 2020 partly on uncertainty over trade dynamics following the imposition of trade tariffs. There is a risk that declining grain prices will weigh on demand for crop inputs. By Lili Minton, Tom Hampson, Julia Campbell and Harry Minihan Global fertilizer affordability Index Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Iranian urea offers fall to $370/t fob, output ramps up
Iranian urea offers fall to $370/t fob, output ramps up
Amsterdam, 17 March (Argus) — Iran's fertilizer producers have reduced their granular urea offers to $370/t fob, down from last week's artificially high levels in the mid to high-$380s/t fob, with output set to return to typical levels after curtailments that have been in place since early December. The offers at $370/t fob are valid for this week. Producers had kept offers notionally high last week in the mid to high-$380s/t fob, but there was no liquidity at these levels and Argus assessed granular urea at $360-370/t fob on 13 March. Producers have yet to return to the market with tenders, but all suppliers have returned plants to full output, including Shiraz's 1.07mn t/yr granular urea unit. Exports are expected to return to more typical rates in April, after suppliers have met domestic and prior commitments. Production was heavily reduced from the first week of December , largely restricted to just one of Pardis' 1.07mn t/yr granular urea units in the following months. The country frequently experiences urea output cuts in winter as domestic heating and gas consumption are prioritised over industrial production. Iran has a total urea production capacity of 9mn t/yr and typically exports around 5mn t/yr. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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