CF Industries forecasts strong nitrogen fertilizer demand

The company expects that global demand growth for nitrogen over the next four years will outpace net capacity additions given the limited number of facilities currently under construction around the world, none of which are in North America.

Chinese coal-based nitrogen complexes will remain the global marginal urea producers. Net Chinese-produced urea exports are likely to range from 1 to 3 million metric tons annually, with higher nitrogen prices bidding in additional Chinese export tons at times when urea supply is needed worldwide.

At the same time the demand for urea from India and Brazil will remain strong over the next two years. Imports of urea to India and Brazil for the full year 2019 are expected to increase.