Urea prices have continued to decline rapidly in recent days, both in France and internationally. The market continues to react to the marked tightening of Indian imports, with significantly lower prices announced among Middle Eastern exporters. However, rumors report export restrictions still in force in China, despite recent announcements.
Chinese phosphate fertilizers, on the other hand, have indeed returned to the world stage, with particularly competitive prices and a quota from May 1 to September 30, 2024 set at 5.6 million tonnes; a particularly high volume. Ammonitrate, on the other hand, faces supply risks given the still tense situation in the Middle East and contradictory information concerning the pace of European production lines.
The seasonal slowdown in demand, however, limits the potential for a bullish reversal. The potash market also remains particularly calm, due to lack of demand.
