Profercy’s Nitrogen Index utilizes key global nitrogen fertilizer prices to derive a value for nitrogen as a crop nutrient. The Index provides a useful and straightforward tool to gauge the overall health of the World market for nitrogen fertilizers.
For the latest detailed market analysis on global urea, ammonia, nitrates and ammonium sulphate, you can sign up for a no-obligation trial of the Profercy Nitrogen Service. To do so, please click here.
| Market Status: Firm | Week 3 – Nitrogen Index up nearly 20 points since early-December
Profercy’s World Nitrogen Index advanced nearly five points to 179.55, the highest level since Q4 2023. The Index has increased by over 19 points since early-December, driven by strong price gains in global urea markets. While market activity cooled in Europe and Turkey this week, attention instead turned to the east. Higher spot values for granular urea were registered in Indonesia and the Middle East. Values in the former reached $411pt fob for a second half January/first half February shipment. Returning to the West, Nola urea values have edged higher, but still lag replacement costs basis last done in Nigeria and the Middle East. Moderate inquiry for west coast Latin America has been circulating with buyers increasingly reliant on suppliers in Africa and Russia. RCF India will close a tender on 23 January for shipments to early-March. It appears unlikely that anything close to the 1.5m. tonnes targeted, as stated in tender documents, can be achieved. For a detailed overview of the latest developments in global nitrogen markets, as well as the latest regional market analysis and price assessments, you can receive a free trial of the Profercy Nitrogen Service. |
The Index is updated each week. An overview of the methodology can be found here.