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North African Fertiliser Squeeze Evident Across Markets

16 December 2013

GLOBAL - The full impact of the North African supply squeeze has been evident in the urea market over the past week, writes Calum Findlay, Gleadell’s Fertiliser Manager.

In the absence of granular urea from that region buyers have rushed to book product from the Middle East, sending urea prices significantly higher.

In Egypt, no granular urea sale tenders have been held this week as producers are still uncertain how much product will be available due to domestic commitments.

Meanwhile, a possible restart of Algerian exports is in the offing, although there is now a large backlog of orders that needs to be filled and numerous short sales in Europe that need to be covered.

The market is likely to keep firming further – UK replacement values are now over £315/t on farm.

TheCropSite News Desk



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