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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Local urea prices have remained steady recently, aligning with mainland replacement levels and global trends. However, the current debate over whether India will source its latest urea purchase from China or the Middle East could significantly impact Australian prices. If China pulls back from exporting, we might see a rise in local urea prices.
Despite ongoing geopolitical uncertainties, energy prices have remained stable, though this could shift rapidly. Given the delicate balance in the fertilizer market, any supply disruptions could lead to substantial price fluctuations.
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