9 August, Fertiliser Comment

Urea prices continued to firm globally this week. A report from respected commodity analyst indicated about 40% of the EU’s urea production has been cut off/shut down due to lack of gas supply from Russia.

Many were hoping that China would save the day- but this is very unlikely in the short term. High prices are doing their job of rationing demand, as global demand has been reduced 10-15%- with many farmers not applying N (especially in South America).