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.
Brazil Jan-Aug AS imports tap record, outpace urea
Brazil Jan-Aug AS imports tap record, outpace urea
Sao Paulo, 9 September (Argus) — Brazil's nitrogen-based ammonium sulphate (AS) imports reached a record for the first eight months of the year because high availability and more attractive prices continue to lead buyers to seek AS instead of urea. Brazil imported nearly 3.8mn metric tonnes (t) in January-August, a 59pc increase from the same period last year and a record for the eight-month period, according to the Global Trade Tracker (GTT)'s latest data. This puts total AS imports in the eight-month period around 100,000t above urea imports in the same period. That is the first time that Brazil imports more AS than urea in the period. AS imports reached almost 916,090t in August, a 34pc rise from the same month in 2024 and also a record for the month. China accounted for 99.9pc of total deliveries in the month and in the year through August. Buyers continue to seek AS because its prices are more attractive than those of other nitrogen-based fertilizers, such as urea. Availability also contributes to keep demand high and support buyers' downward pressure on prices. This trend has been intensifying since 2022, when concerns over urea supply made farmers turn to nitrogen alternatives. The fertilizer can also be stocked. Urea, which is more volatile depending on weather conditions, cannot. Urea imports down Brazil's urea imports fell by 19pc in August to approximately 612,080t, according to GTT data. Oman was the main supplier, with 21pc of the volume. Russia followed, with nearly 13pc, while Qatar, Nigeria and Algeria shipped around 12pc each. Brazil imported around 3.7mn t of urea in January-August, around 16pc less than in the same period in 2024. That is also the lowest level for the eight-month period since 2019. Nigeria was the main supplier in the eight-month period, accounting for 26pc of the total. Oman sent around 16pc. Qatar, Algeria and Russia were responsible for around 14pc, 13pc and 12pc, respectively. Higher prices and global limited availability in part of the year discouraged urea purchases. Brazil's nitrogen purchases will intensify in the fourth quarter, after the start of the soybean planting, when buyers turn their attention to acquiring nitrogen to supply the 2025-26 second corn crop, market participants expect. But they also expect total urea exports to end 2025 below both last year's level and this year's AS volumes. AN imports also fall Brazil imported 157,430t of ammonium nitrate (AN) in August, a 23pc drop from a year earlier, according to GTT data. But AN imports in January-August summed around 694,970t, 5pc more than in the same period in 2024. Russia was the main supplier, accounting for all imports in August and 94pc of volumes in January-August. By Gisele Augusto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
EU seeks views on CBAM benchmarks, embedded emissions
EU seeks views on CBAM benchmarks, embedded emissions
London, 29 August (Argus) — The European Commission has launched a call for evidence to gather feedback on how obligations under the EU carbon border adjustment mechanism (CBAM) should account for any carbon price already paid on imported goods, the determination of CBAM benchmarks and the methodologies for calculating products' embedded emissions. The feedback will inform the commission's development of three implementing acts. One will determine how EU importers apply for a reduction in their CBAM compliance obligations to adjust for a carbon price already paid on the given goods in a non-EU country. The act will set out rules for converting this carbon price into a "corresponding number of CBAM certificates", including evidence needed to prove the price already paid. Another implementing act will set out the methodology for calculating free EU emissions trading system (ETS) allowance allocations embedded in products, which will then be applied as a CBAM obligation discount. It will also elaborate the benchmarks for CBAM-covered goods, which will be derived from the existing EU ETS benchmarks used to calculate free allocations. This includes ensuring that the EU ETS benchmarks, which are designed for installations and production processes, match up with individual CBAM goods. The approach should be simple enough to avoid a disproportionate administrative burden while maintaining accuracy, the commission said. A third implementing act will set out the methodology to be used once CBAM's definitive period starts on 1 January 2026 to determine direct embedded emissions in imported goods based on actual emissions, embedded emissions for electricity, indirect embedded emissions and the default values for goods other than electricity used when embedded emissions are not based on actual emissions. The feedback period runs until 25 September. The commission plans to adopt the implementing acts in the fourth quarter of this year. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Nigeria's Dangote to build urea plant in Ethiopia
Nigeria's Dangote to build urea plant in Ethiopia
London, 28 August (Argus) — Ethiopia to build 3mn t/year urea plant Nigeria's Dangote Group and the government of Ethiopia have signed an agreement to build a 3mn t/year urea plant in Gode, Ethiopia — a first for the country. Dangote will have a 60pc share in the factory while the government of Ethiopia will hold the balance through Ethiopian Investment Holdings. No date has been set for the start of construction. The companies expect the cost to be around $2.5bn, and construction to take 40 months. Ethiopia currently consumes around 750,000t/year of urea, importing this through large tenders. There will likely be a significant surplus for export as a result. Natural gas feedstock will be sourced from the nearby Calub and Hilala gas fields. In years past OCP was connected with the possible development of an NP/NPK plant sourcing gas from the same fields. By Bede Heren Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
India’s urea stocks post largest monthly drop in July
India’s urea stocks post largest monthly drop in July
Amsterdam, 19 August (Argus) — Indian urea inventories fell by 2.46mn t last month, marking the steepest monthly drawdown in stocks on Argus 's record. The country's urea sales rocketed to 5.4mn t in July , setting a fresh sales record for any month, in line with provisional data which emerged in the first week of August. The surge in sales outstripped combined production of 2.57mn t and imports of 407,000t. The stock drawdown in July was greater than the cut of 2.32mn t in July 2020. Argus estimates India's urea inventories ended July at around 4.3mn t, compared with 8.7mn t at the end of the month last year. A strong start to the monsoon rain period and tight supply of DAP have encouraged Indian urea sales. Urea offtake typically peaks in July-August for the summer Kharif season. 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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