Fertilizer price today February 23, 2023: fertilizer price is stable

fertilizer prices today, February 23, 2023: fertilizer prices are flat. In its fertilizer stock outlook update report, Ban Viet Securities expects urea prices to fall in 2023. As of mid-February 2023, the average Middle East urea price year-to-date was $411/ton — 29% lower than the average in the fourth quarter of 2022. VCSC revised down its forecast for Middle East urea prices in 2023 by 17% from $539/ton to $450/ton. According to industry players, current urea prices may have bottomed out, which will stimulate higher urea demand in the coming months. In addition, although gas prices in Europe have decreased since late August 2022, they remain high at $18/MMBTU – 17% higher than the level before the Russia-Ukraine conflict and 3.8 times higher than the level before the COVID-19 pandemic. Therefore, Europe may prioritize urea imports at competitive prices over domestic production, and only a few gas-fired urea plants in Europe that were suspended in 2022 may resume operations in 2023. In addition, industry players believe that China’s urea exports will increase in 2023 compared to 2022 due to the competitive production costs of coal-fired urea plants compared to gas-fired urea plants in Europe and the reopening of China in 2023. Russia’s urea exports will increase in 2023 thanks to higher export quotas for nitrogen fertilizers, including urea. #fertilizer_price #farmers #western region #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials #news #agriculture

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