Urea Phosphate Price Trend and Forecast

Urea Phosphate Regional Price Overview

Get the latest insights on price movement and trend analysis of Urea Phosphate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Urea Phosphate Price Trend for Q1 of 2024

In the Asian region during Q1'24, urea phosphate market trends were largely stable, with minor downward tilts. In India and China, supply and demand dynamics were balanced, although the downstream consumption was underwhelming. In the early winter months, the agriculture sector was unable to do much for the downstream sectors. Therefore, the prices began on a slightly weaker note. However, the demands picked up in the latter phase of Q1'24.
 

Urea Phosphate Price Chart

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In Europe, the urea phosphate market presented a mixed performance throughout the first quarter of 2024. While sanctions on Russian exports disrupted the supply side, lackluster demand across most markets mitigated significant price shifts. Australian imports provided some positive influence, but geopolitical tensions, including missile attacks on shipments by Houthi rebels in the Red Sea, shaped market dynamics.

Meanwhile, in North America, urea phosphate market trends mirrored those in Asia and Europe with stable yet slightly declining conditions compared to the previous year. Increased corn production and a shift towards more soybean acreage impacted demand for urea phosphate.

As spring approached, an anticipated rise in urea phosphate imports was noted. Despite ongoing conflicts, urea phosphate production mostly remained stable. Demand was expected to see a slight increase, yet the low-profit expectations from crop sales and overall mild depression in the agricultural sector constrained significant market growth.

Analyst Insight

According to Procurement Resource, the Urea Phosphate markets are anticipated to remain steady in early 2024, and regional supplies are normal; however, the ocean freight disturbances are likely to greatly impact international trade.

Procurement Resource provides latest prices of Urea Phosphate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.