Urea Prices in USA

  • United States: 470 USD/MT

In the USA, the price trend for urea settled at $470 per metric ton. Throughout the fourth quarter of 2023, urea prices in the U.S. experienced a decline primarily attributed to a mix of moderate demand and logistical issues.

The latest report by IMARC, titled “Urea Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data” delivers a comprehensive analysis of urea prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Urea Prices December 2023:

  • United States: 470 USD/MT
  • China: 350 USD/MT
  • Europe: 410 USD/MT

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The study delves into the factors affecting urea price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

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Urea Price Trend- Q4 2023

The global urea market is being propelled by a complex interplay of supply chain disruptions, fluctuating raw material costs, and varying regional demand patterns. A primary driver is the cost of ammonia, a crucial raw material for urea production, which has been subject to volatility, influencing urea prices and production strategies. Internationally, the market dynamics are heavily influenced by demand fluctuations, particularly in major agricultural regions preparing for planting seasons, such as India during the Kharif season. This demand surge is often countered by logistical challenges, including plant shutdowns and transportation bottlenecks, which were notably severe in North America due to freezing weather conditions and logistical disruptions along critical routes like the Mississippi River.

Urea Market Analysis

The global urea market size reached US$ 51.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 59.9 Billion, at a projected CAGR of 1.60% during 2023-2032. Moreover, geopolitical factors and trade policies play a significant role. For instance, China’s withdrawal from the fertilizer export market has shifted the demand to other regions, stressing the North American and European markets. Environmental regulations, particularly in the APAC region, have also constrained production capacities, leading to supply shortages that intermittently push prices upwards. Overall, the urea market is shaped by a delicate balance of supply-side constraints and demand-driven by agricultural cycles, underscored by an overlay of international trade flows and regulatory environments.

In North America, urea prices were influenced by several key factors in the last quarter. The absence of China from the global fertilizer market prompted a significant rise in demand from Asian countries, notably India, gearing up for the Kharif planting season. This was juxtaposed against domestic fluctuations in demand as local farmers prepared for spring planting, hindered by poor weather conditions. Several critical plant shutdowns due to freezing temperatures further strained the supply, leading to shortfalls that were exacerbated by logistical challenges, including disruptions along the Mississippi River. These factors collectively necessitated price adjustments by traders to manage profit margins amidst increased shipping costs and supply shortages.

In the APAC region, urea prices experienced notable volatility primarily due to enhanced material availability and subdued demand following the peak planting season. The initial surplus in supplies was supported by favorable weather conditions boosting local production. However, regulatory restrictions in China and unforeseen operational disruptions at key manufacturing sites led to unexpected shortages, prompting a late-quarter price increase. The shift towards preparations for the wheat and barley planting season mildly bolstered demand, contributing to the complex pricing landscape that saw a marginal price rise at the quarter’s end.

European urea prices saw significant fluctuations, starting with a sharp price spike due to a demand-supply imbalance, particularly from Russia. The quarter progressed with disruptions caused by adverse weather affecting production. The resumption of production was slow, leading to a sustained decline in prices as broader market trends indicated decreasing demand. This was further impacted by prolonged rainfall in northern regions, extending the application period for fertilizers and delaying immediate demand for urea, thus affecting the overall market dynamics throughout the quarter.

In South America, particularly in Brazil, urea prices were buoyed by optimistic market sentiments driven by the amelioration of drought conditions, enhancing agricultural prospects. Despite improved weather facilitating crop sowing, restrictions on the Panama Canal reduced urea import capacities, tightening the local market supply. The seasonal resurgence in demand due to the commencement of harvesting and favorable conditions for summer crops also played a crucial role in the sequential price increases observed over the quarter.

The Middle East and Africa (MEA) region saw urea prices impacted by several factors including trade uncertainties, particularly around the Red Sea, which led to higher freight rates and supply chain disruptions. Weak demand both domestically and internationally, coupled with an oversupply in early parts of the quarter, led to price declines. The geopolitical tensions and resultant trade diversions further complicated the market environment, suppressing demand and contributing to the ongoing price volatility observed throughout the quarter.

Browse Full Report:   https://www.imarcgroup.com/urea-pricing-report

Key Points Covered in the Urea Pricing Report:

The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:

  • Urea Prices
  • Urea Price Chart
  • Urea Demand & Supply
  • Urea Market Analysis
  • Demand Supply Analysis by Type
  • Demand Supply Analysis by Application
  • Demand Supply Analysis of Raw Materials
  • Urea Price Analysis
  • Urea Industry Drivers, Restraints, and Opportunities
  • Urea News and Recent developments
  • Global Event Analysis
  • List of Key Players

Regional Price Analysis:

  • Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
  • Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece
  • North America: United States and Canada
  • Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
  • Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

Browse More Pricing Reports by IMARC Group:

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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