Urea
Domestic granular urea buying was slower because of very limited stocks and the Easter long weekend.
Argus last assessed granular urea at A$1,420-1,435/t fca Geelong.
One supplier reportedly acquired a urea vessel from Nigeria, the first import of its kind, according to trade data from the Australian Bureau of Statistics (ABS). Importers are also looking to Egypt for supply as the Strait of Hormuz cuts off access to their dominant supply region. But neither Nigeria or Egypt is cleared under Australian Quarantine and Inspection Services biosecurity standards, Argus understands.
Fertilizer Australia is calling for the Australian government to ease restrictions on Russian imports. The government plans to provide guarantees, extend loans and undertake other arrangements to secure imports. While these initiatives are primarily aimed at fuel, fertiliser buyers should be able to benefit too.
There are 235,000t of urea in transit to Australia across 9 vessels, vessel tracking data from Kpler show.
Australia's urea imports fell by 26% on the year to 193,600t in February, further limiting domestic supply before imports from the Middle East were cut off by the US-Iran war, ABS data show.
Phosphates
The domestic MAP/DAP market is quiet with little demand and limited available prompt supply.
There are 225,000t of MAP/DAP and other phosphorous fertilisers in transit to Australia, Kpler data show.
Commentary and pricing supplied by Argus Media
Disclaimer: The information provided in this report is general in nature and is intended for informational purposes only.