Urea
There is little domestic demand for granular urea as is seasonally expected, but new offers were heard at A$1,180-1,250/t fca Geelong.
Argus last assessed granular urea at A$1,180-1,350/t fca Geelong. The drop in offer price reflects softer global market sentiments as well as Australia’s underwriting scheme applied to six vessels to Australia, multiple suppliers said.
The Australian Government has now underwritten over 200,000t of urea across six vessels through its Export Finance Australia scheme, the Government said on 27 May.
Domestic demand is expected to increase in late June for further top-dressing applications.
Chinese urea export allocations have been issued to participants including producers, distributers and phosphate fertiliser producers. Australia imported only 96,850t from China in 2025, but this might increase as trade through the Strait of Hormuz remains limited, suppliers said.
Australia imported its first-ever urea vessels from Nigeria in late May, carrying a combined 60,000t, vessel tracking data from Kpler show. Two vessels arrived at Adelaide and Geelong on 30 and 31 May, respectively.
Phosphates
The domestic MAP/DAP market remains quiet with little buying occurring, but suppliers expect domestic prices to stay firm because of rising sulphuric acid prices. Concerns remain over supply for the summer crop starting, with Saudi Arabia and China largely not present in the export market.
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.