There is little interest today in buying more urea as there are considerable stocks in hand with application delayed again by bad weather. Yara has restarted production at Ferrara and product is already being delivered. An importer without tonnes or more limited stock however may be tempted to pick up some granular offered at $260 fob and undercut product already on the ground. Any delays in shipping out of Egypt however could create problems as tonnes will be needed very shortly once the weather improves. There is every likelihood that the ?285 fot bagged benchmark price today for granular will be further eroded once buyers come to the market. Prills will simply have to follow suit.
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