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Urea Prices Overview

Market Overview

For the Quarter Ending March 2021

North America

The North American region faced improved demand for Urea during thequarter, but due to the shortage of feedstock chemicals, prices remained high.Several feedstock Ammonia plants remained idled with several otherproduction units across the gulf coast as an effect of winter storm. Ex-factoryUrea prices at port Neal were reported around USD 415 per MT in March,showing gain of USD 20 per MT on month-on-month basis. After a long winterstorm and trade disruptions, it is anticipated that till the end of the quarterprices would stop accelerating, as the production across the US gulf wouldprogress towards supply restoration.

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Asia

Urea prices across the Asian market rose consistently due to healthyimprovement in demand from the domestic as well as international fertilizersmarket.

During Q1 2021, prices in China suddenly surged due to partial lockdownactivities amid surging daily COVID-19 cases, although it didn’t affect theproduction of Urea in the country, but road transportation and exports activitiesstarted facing trouble.

Meanwhile, in the Indian market, demand for Urea improved compared to theprior quarter and limited supply supported its prices. In addition, sentimentswere bolstered after the Indian government approved the grant of USD 13.44million to sustain BVFCL (Brahmaputra Valley Fertilizers Corporation Limited)plant operations, having urea production capacity of 390,000 MT/year, toensure timely Urea availability for farming sector in the north eastern part ofIndia.

Europe

The European Urea market experienced stable domestic and internationaldemand for Urea during Q1 2021. The international demand was initiated dueto lower feedstock i.e. Ammonia output from the US market due to disturbedproduction and limited trade activities in the second half of the quarter, whichsupported the price rise across the region.

Shipping container shortages and soaring freight cost also significantlyimpacted the price of Urea across several trading routes.

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Methodology

ChemAnalyst gathers information through primary research surveys conductedwith various Urea manufacturers, spread across the domestic andinternational market, suppliers and dealers/distributors to gain insightsinto value-chains and demand-supply scenario to assess the market situation.Thorough study of company’s annual reports and secondary sources such asexhaustive search on credible paid databases, including our internal databaseis done to verify the information. All the collected information is analyzed,evaluated and presented in chronological order to depict a meaningful andclear picture of the concerned market.

Our dedicated team of industry experts comprehensively monitors andanalyzes various aspects of the Global Urea market. The team analyzesvarious industrial segments, strategic viewpoints and provides an analysis ofthe industry’s performance in the long run. This would enable our clients inefficiently plan their future investments, mitigate risk, understand the costdynamics and strike out a balance amidst market volatility.

Critical examination of the impact of COVID-19 pandemic on the global supplychains and shift in demand patterns with change in buying behavior ofconsumers across the globe.

Several ongoing development projects across industries are tracked, followedby the details of major projects in the development stage, which can positivelyor negatively influence Global Urea market.

Pricing is captured through exhaustive primary interviews with domestic andinternational manufacturers, traders and importers and customers on weekly,monthly and yearly basis.

Finally, region-specific markets for Urea are analyzed and region-wisedemand pattern is tracked.




About

Urea also known as Carbamide, is an organic compound with chemical formulaCO(NH2)2. It is colorless, odorless, and non-toxic solid compound which existsideal affinity for water. Commercially, Urea is manufactured by reactingsynthetic ammonia with carbon dioxide. Urea finds wide application inagriculture industry, where more than 90% of total Urea produced in the worldis used as a nitrogen-release fertilizer. Urea is known to have highest nitrogencontent among most used nitrogenous fertilizers. Urea also finds itsapplication in manufacturing of two widely used class of materials, namely,Urea-formaldehyde resins and Urea-Urea formaldehyde where latter is used inmarine plywood. In addition , Urea has been commonly used in automobileindustry to reduce the NOx pollutants in exhaust gases from combustion ofdiesel, dual fuel, and natural gas .

Product Specific Details

CAS No.: Mapped Under Multiple Cas No; HS Code: Multiple HSCodes; Grades: Feed grade, Fertilizer grade (46% N content), TechnicalGrade; Packaging Size: 50Kg bag; Incoterms: CFR, FOB, Ex-Works, BulkContracted, Spot

Countries Covered:

APAC – China, Japan, India, South Korea, Singapore

Europe – Germany, France, Belgium

America – USA, Brazil

MEA – Saudi Arabia, UAE, South Africa




How we can help

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ChemAnalyst is ‘one stop’ online portal that offers comprehensive marketintelligence data and in-depth analysis on the Global chemical andpetrochemical industry. Our aim is to provide competitive advantage tothe industry stakeholders by offering ‘cutting edge’ information andanalysis that help our customers leverage on the emerging opportunitiesin their businesses.

ChemAnalyst’s team of 100+ analysts are engaged in tracking ChemicalPrices daily, production capacity, demand and supply outlook,manufacturing plant locations, foreign trade data and news/deals formore than 400 major chemicals produced in India. ChemAnalyst’sInteractive subscription platform provides the most comprehensive dataand analysis in your industry to help you decode the future.

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