General Market
CF withdrew its NPK terms all terms on Thursday 11th and then followed that by pulling all terms on Friday 12th. At the time of publication CF distributors still await the new terms. Yara appear to be taking a watchful approach as it is not clear if this latest withdrawal from CF is market driven or production driven.
Urea
India is evidently waiting until the end of February before holding its next tender. Some traders expected that India would return in January, and this delay may result in a bigger purchase, close to 1M tonnes. Overall availability of Urea is tight, and international markets can be expected to continue to firm. Stocks in the UK and Europe are also reported to be low, as many shippers and merchants have been unwilling to risk carrying stocks over into another season at the recent high levels.
Potash
More Potash supply agreements were announced last week. Again, it was BPC that announced a 2021 deal, this week with a Chinese buyer which was $27 higher than 2020. Canadian Potash producer Nutrien has re-confirmed its position that BPC pricing is not reflective of current market conditions.
AIC Urea Consultation Response
The Agricultural Industries Confederation (AIC) the agri-supply industries leading trade association, recently responded to DEFRAs’ Urea use consultation. In it is stated that it ‘believes that a ban on the sale and use of solid urea fertiliser is unwarranted’. They also urged the Government to give the fertiliser sector the opportunity to reduce ammonia emissions through an industry-led commitment. As a final part of its’ initial headline statement, it said that ‘AIC and partners across the industry and food chain have committed to improving farm nutrient balance (notably for nitrogen and phosphorous) and all Nutrient Use Efficiency (NUE) by 2030’ The method the AIC envisages this approach is through FACTS qualified advisors and farm assurance auditing. While we await any statement from DEFRA, AIC has requested that Government ministers delay any decisions until the full recommendations of the DEFRA Nutrient Management Expert Group have been considered.
Nitrasol Terminal North
Nitrasol the Norfolk based liquid fertiliser manufacturer have released a video clip of the progress being made at their new terminal in Sunderland due to open this year. Click on the link below to view :
https://twitter.com/NitraSol/status/1354020166980534274
Economic Data as at close on Friday 12th February v (5th February 2021) £ = $ 1.3854 ($1.3724) £ = € 1.1431 (€ 1.1419) Crude Oil = $ 62.64 ($ 59.62) Natural Gas =$ 2.76 ($2.76) Please treat pricing on graphs as a guide, please use quote request form for an up-to-date price.