Urea
Multiple fertiliser suppliers have reported little to no prompt granular urea supply after a period of stronger retailer and grower buying.
Argus last assessed granular urea at A$790-810/t fca Geelong.
There is little demand for further shipments of urea from Australian importers currently, as the winter crop applications tend to drop off in August. Firming international urea prices are also limiting import demand.
There are 148,000t of urea in transit to Australia, and 381,000t have arrived in July so far, vessel tracking data from Kpler show. Australia imported 586,100t of urea in July last year, trade data from the Australian Bureau of Statistics show.
Australian importers are looking to Saudi Arabia’s Yanbu port as an alternative to regular loading from the eastern ports of Ras Al Khair and SABIC Jubail for urea and phosphates supply. This would require biosecurity clearance from Australia’s Department of Agriculture, Fisheries and Forestry.
Phosphates
Australia's phosphate fertiliser supply could tighten further in the next buying period if renewed conflict in the Middle East continues to restrict trade from Saudi Arabia and shipments from China remain limited, suppliers said.
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.