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Fertiliser Comment, 30 October



Local urea prices have been very steady for a few weeks. Tasmanian urea prices are generally tracking mainland replacement levels, which in turn have been tracking global values.


India has purchased another round of urea and there a debate from where it will be executed - China or the Middle East. It matters a lot to Australian pricing, because if China are not there to export, local prices will trend higher.


Despite the geo-political uncertainty, energy prices have remained relatively calm. This could all change in a matter of hours.


The fertiliser market feels delicately balanced at the moment, so any supply issues could see some fire works.

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