By Adam Jones | Aug 15, 2016 11:28 am EDT
Urea Prices
Last week, urea prices reversed their falling trend. Urea is one of the most widely used nitrogen fertilizers in the world. It requires ammonia as a feedstock.
Granular urea
China, which is the largest producer and exporter of urea, saw a 3% rise in granular urea prices last week, to $195 per metric ton week-over-week. This bounced off the five-year low point of $188 per metric ton two weeks ago, and it was a fall of 29% YoY (year-over-year).
Similarly, prices of urea in the Corn Belt region rose by 5% to $225 per metric ton free on board, compared to $195 per metric ton in the previous week. Two weeks ago, granular urea prices hit a fresh five-year low. They’ve fallen by 37% YoY.