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Market for fertilizers: global urea prices fell to the lowest level Global urea prices have sharply declined after a spring surge, returning to levels observed before the situation around Iran escalated. This is reported by UkrAgroConsult. Thus, according to Bloomberg Green Markets, the cost of granulated urea in New Orleans has dropped to $453.5 per ton, which is the lowest figure since February 6 and 36% less compared to the mid-April peak. At the beginning of the year, the nitrogen fertilizer market reacted sharply to the threat of supply disruptions due to the conflict around Iran and risks to shipping through the Strait of Hormuz. Urea is the most common nitrogen fertilizer in the world, and almost half of its global exports come from countries that were somehow connected to the geopolitical risks in the region. However, other factors are currently putting pressure on the market. Fertilizer demand in the U.S. has noticeably weakened after the completion of the main spring planting

The first plant for the production of the nitrogen fertilizer urea will be built in Kazakhstan.

Urea prices fall to their lowest level since the start of the Iran war amid oversupply