Yara and Mosaic settle November ammonia contract at $645 a tonne
The November ammonia contract between Yara and Mosaic settled at USD 645 per metric ton CFR Tampa, up USD 95 from October, according to a weekly market report.
Rising European natural gas prices and curtailed regional production drove the increase. Northwest European ammonia is at USD 710 to 730 per ton CFR, while Chinese export ammonia trades at USD 510 to 535 FOB. Indian buyers are resisting prices above USD 520 CFR.
Other nutrients are softer. Urea is under pressure until India’s next tender, which is expected at about 2.5 million tonnes, sets a clearer benchmark. Phosphates and potash are also easing as buyers push back.
The same weekly report says ammonia is moving in the opposite direction to urea, phosphates and potash, which face downward price pressure. Ammonia is rising mainly because of higher natural gas costs and reduced manufacturing capacity in Europe.
Northwest European ammonia prices strengthened during the week after the settlement.
Source: Hortidaily
Questions and answers
USD 645 per metric ton CFR Tampa for November, up USD 95 from October.
Rising European natural gas prices and curtailed production in the region.
About USD 710 to 730 per ton CFR, according to the same weekly report.
Prices are under pressure until India’s next major tender, which is expected at about 2.5 million tonnes, sets a clearer benchmark.
India’s urea tender and European gas prices, which the report says could push ammonia higher.
Enjoyed this story?
Every Monday, our subscribers get their hands on a digest of the most trending agriculture news. You can join them too!
Discussion0 comments