Urea :Higher gas costs and Russian grain export ban boost urea

摘要

Substantial increases announced in the cost of natural gas to Ukrainian producers combined with added demand for Nigeria and surging crop values on the back of Russian export ban for grains this week. Prices for prilled material from the Black Sea jumped from netbacks at $237-238/mt FOB to a deal at $253/mt FOB at press time. The overall bullish sentiment is also substantially influenced by the tragic accident in the Pardis I ammonia and urea units in Iran that could see output cut for an extended period.