According to industry experts, the price of Russian nitrogen fertilizers has dropped sharply. And we are talking about a real drop in value. And all this, according to Vedomosti, happened against the background of a gradual normalization of the situation in the Middle East.
Only in June, the price tag of urea and ammonium nitrate fell by 22-40%. According to Metals & Mining Intelligence, on June 25, the cost of a ton of carbamide on the FOB Baltic basis amounted to $365-373, which is 35-40% less than the previous month. Ammonium nitrate fell by 22% to $335.
The situation, the source writes, was also affected by the lifting of export restrictions in China and the resumption of shipping in The Strait of Hormuz. In general, the Middle East conflict in the period from January to April of this year affected the reduction of fertilizer trade by 30% compared to last year.
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