All posts by mickeybarb@charter.net

EPA Hits Back Against WOTUS Challenges

Featured, News, Texas, U.S.

The US Environmental Protection Agency (EPA) has hit back against Texas and other states suing to vacate the agency’s new “Waters of the United States” (WOTUS) rule, saying the states have sued to halt a rule that isn’t much different from the status quo.

“Plaintiffs’ claims of harm are premised on either a complete disregard for the Rule’s similarity to the status quo they seek to maintain,” or overstate the differences between the status quo and the new rule, EPA said in a response filed on March 4, according to Bloomberg Law.

In the case, Texas v. EPA, the state is asking the US District Court for the Southern District of Texas to issue a preliminary injunction against the new WOTUS rule, which is set to take effect on March 20. The state claims it faces too much regulatory uncertainty because of the rule, but EPA in its response said Texas failed to show that it has standing to sue because uncertainty isn’t sufficient to establish standing, Bloomberg Law reported.

Officially announced on Dec. 30 (GM Jan. 6, p. 1) by EPA and the Army Corps of Engineers, the new WOTUS rule claims to restore protections that were in place prior to 2015 under the Clean Water Act (CWA), but with “updates to reflect existing Supreme Court decisions, the latest science, and the agencies’ technical expertise.”

The rule was published in the Federal Register on Jan. 18. Since then, some 26 states (GM Feb. 24, p. 30) and a coalition of 17 agricultural and industry groups (GM Jan. 27, p. 1) have joined at least five lawsuits seeking to vacate the rule, claiming it is overly vague and exceeds EPA’s regulatory authority.

EPA, however, said “the differences between the challenged rule and the status quo regime are slight, and neither Texas nor industry has shown a harm arising out of any of those slight differences.” EPA further argued that if Texas were to succeed in its claims against the new rule, it could “unlock the door only to party-specific relief,” not a nationwide scrapping of the rule.

EPA also argued that the plaintiffs haven’t demonstrated that they will be harmed because of higher compliance costs caused by the new rule, because these compliance costs come from existing regulations already in effect, not the new rule, according to Bloomberg Law.

The lawsuits also argue that the new WOTUS rule is premature because of a pending US Supreme Court ruling in Sackett v. EPA, a pivotal WOTUS test case involving a couple that for 15 years has been prevented from building a home on their 0.63-acre property in Priest Lake, Idaho, because EPA claims part of the property contains wetlands and is therefore subject to regulation under the CWA.

In its response, however, EPA said Sackett has no bearing on Texas’ alleged harms. “The states contend that their injuries (to the extent they exist) are ‘exacerbated’ by the pending Sackett litigation, which will ‘likely significantly impact the Rule’s implementation,’” EPA said. “That is the definition of conjecture. The question here is whether the states have suffered irreparable injury caused by the rule, not how a forthcoming court decision may affect its implementation.”

Millennial Potash Corp. – Management Brief

Management Briefs, Potash, Vancouver

Vancouver-based Millennial Potash Corp. (MLP) announced on March 6 that Rick Lacroix has joined the company’s Board of Directors. Lacroix most recently served as a director for Allana Potash Corp. in Toronto, Ont., and was also a director at Millennial Lithium Corp., Vancouver, B.C.

He previously spent more than 30 years with Potash Corp. of Saskatchewan, including as Senior Vice President, and was also a former director of Canpotex and former Chairman of Canpotext Bulk Terminals. Lacroix has a B.S. in Electrical Engineering from the University of Saskatchewan.

“We are very pleased that Mr. Rick Lacroix has decided to join the Millennial Potash Board,” said Farhad Abasov, who was appointed Chairman of the Board for MLP in February (GM Feb. 10, p. 27). “We are looking forward to Rick’s contributions to our Board as we accelerate our exploration and development activities at our Banio Potash Project in Gabon.”

MLP also announced that it has granted a total of 100,000 incentive stock options exercisable for a period of five years at an exercise price of $0.50 per share. In addition, the company said it has elected to terminate its option on the Mohave Gold Project and has provided a notice of termination to M3 Metals Corp.

Fertilizers Europe – Management Brief

Europe, Management Briefs

Fertilizers Europe, the Brussels-based European producers’ organization, announced the appointment of Antoine Hoxha as its new Director General, effective March 1. He replaces Jacob Hansen, who served as Director General for 12 years before resigning last month to return to his native Denmark (GM Feb. 10, p. 27).

Hoxha’s former position was as Fertilizer Europe’s Agriculture and Production Director. He has been with the association since 2010, prior to which he worked for eight years in other fertilizer industry roles.

Three Die in Roof Collapse at ICL Mine

Israel, News, News Briefs, Potash, Spain

Three geologists died on March 9 after becoming trapped deep underground in ICL Iberia’s Cabanasses de Súria potash mine, approximately 80 kilometers from Barcelona, local media reported. The Catalan fire brigade was called to the scene at 8:53 a.m. local time.

The three men were reportedly some 900 meters underground when a tunnel collapsed. According to a Euronews report, citing a mine employee, the collapsed section was only built “a few days ago.”

The three men were Spanish nationals, and two of them were post-graduate students at the Polytechnic University of Catalonia’s Manresa engineering school, according to Euronews, citing ICL officials.

A similar accident at the mine claimed two lives in 2013. The regional government is undertaking an investigation, and a judicial probe has also been opened.

Tel Aviv-based ICL Group Ltd., which owns the Spanish mining operation, said there had been an “unfortunate underground accident” in a statement released before the deaths were announced. The company had not responded to Green Markets inquiries for further comment by press time.

Acron Completes Shaft Construction at Talitsky Potash Project

News, News Briefs, Potash, Russia

Russia’s Acron Group reported that its Verkhnekamsk Potash Co. (VPC) subsidiary has completed the construction of the skip and cage shafts at the Talitsky potash mine project in Russia’s Perm region.

The skip shaft depth is 414 meters and the cage shaft depth is 363 meters, the group said in a March 7 press release. Russia’s FSUE Construction Department No. 30 is the main contractor for the shaft work.

With this stage completed, VPC CEO Alexander Pupov said the company can now accelerate mine construction and carry out both underground and surface works. When completed, the project will have an initial capacity of 2 million mt/y, with the potential for further expansion to 2.6 million mt/y.

As of February 2022, Acron group was targeting first production at Talitsky in 2025. However, the group had not responded to Green Markets inquiries as to whether development was still on track for this start-up target.

Acron Group owns a 50% plus one share in VPC, with Russian banks Sberbank Investments, Otkritie Bank, and VTB Group holding the remaining 29.9% stakeholdings.

Lithuania Targets Belarusian Sanctions Evasion

Belarus, Featured, Lithuania, News, Urea

Lithuania’s Ministry of Foreign Affairs and Ministry of Transportation are calling on the European Commission to expand sanctions against Belarus to include Belarusian urea after a crackdown on sanctions’ evasion schemes.

The Lithuanian government is also considering a ban on all rail shipments from Belarus, as well as from Russia.

The moves follow the seizure by Lithuanian authorities of “thousands of tonnes” of Belarusian urea that had entered Lithuania on trains that were headed for the port of Klaipėda, according to a report by the Organized Crime and Corruption Reporting Project (OCCRP).

The destination in the port, according to the report, was Biriu Kroviniu Terminalas (BKT). Belarusian potash producers own a 30% stake in BKT, which operates a large terminal in Klaipėda port and specializes in fertilizer handling. Up to the end of January 2022, the terminal was moving thousands of tons of Belarusian potash.

But Belarus has not been able to export potash via Klaipėda since Feb. 1, 2022, after Lithuania’s government terminated the railway transit contract between the country’s state-owned railway company Lietuvos Geležinkeliai’s (LTG) and Belarus’ state-owned potash producer Belaruskali OAO over national security concerns (GM Jan. 14, 2022).

The Lithuanian decision came in the wake of European Union (EU) and US sectoral sanctions on Belarus, which included a ban on the trading and transit of potash, as well as a raft of sanctions on Belarusian companies, including Belaruskali and its marketing/export arm Belarusian Potash Co. (BPC), and Belarus’ sole urea producer, Grodno Azot.

According to the OCCRP report, trucks have also reportedly been involved in transporting Belarusian urea through Lithuania for eastern destinations, including to Serbia in at least one instance.

Lithuania made the seizures and tightened control measures along its 679-kilometer border with Belarus after two OCCRP member centers exposed the sanctions evasion.

While the EU put Grodno Azot under sanctions in 2021, which prohibits EU companies from doing business with the producer, the ban does not prohibit Belarusian urea from being imported into the EU, “a fact quickly made use of by persons in at least three countries,” the OCCRP report said.

Grodno Azot has production capacity for some 1.18 million mt/y of urea, according to the Green Markets database, and exported 229,031 mt of urea in 2020, according to the most recent data available from Trade Data Monitor.

Iraq to Relax Import Restrictions on Urea, DAP

Di-Ammonium Phosphate, Middle East, News, News Briefs, Urea

Iraq is set to relax its import restrictions on urea and DAP, according to an Iraq Business News report, citing Iraq’s Cabinet.

Iraq’s Council of Ministers has canceled the requirement for import licenses for the two fertilizer products and will allow private and “mixed-sector” companies, licensed agricultural offices, and the country’s General Union of Agricultural Associations to import urea and DAP for agricultural use without an import license, according to the report.

In addition, the entry of urea and DAP into Iraq will be allowed through specified border crossings following the approval of certain procedures. Chemical and radiological checks of the imported fertilizers will also take place at the border crossings within 48 hours of the consignments’ arrival.

Under the new rules, Iraq’s National Security Advisor will also establish mechanisms to regulate the storage of fertilizers and monitor their distribution in coordination with the relevant authorities, according to the report.

Iraq imported 10,000 mt of DAP in 2021 but did not import any urea, according to International Fertilizer Association data.

Glenover Phosphates Project Advances in South Africa

News, News Briefs, Phosphate, South Africa, SSP

South African JSE-listed aggregates and mining company Afrimat reported last month that it had produced the first batches of apatite at its recently acquired Glenover project, and a plant for the production of SSP is now under construction.

The company is targeting the plant’s commissioning for July or August this year, and plans to launch the production of NPK fertilizers in the future. Product will be targeted at the African market.

Afrimat acquired the Glenover project, located 90 kilometers northwest of Thabazimbi in the Limpopo Province, in 2021 for $34.3 million.

In addition to apatite, the project sits with two other strategic minerals – rare earth minerals and vermiculite – on the same site. The company said current reserves of the three minerals provide for a resource life of more than 20 years.

Ammonia

Ammonia, Black Sea, Eastern Cornbelt, India, Market Watch, Middle East, Northern Plains, Northwestern Europe, Tampa, Thailand, U.S. Gulf, Western Cornbelt

US Gulf/Tampa:

The Tampa ammonia price remains under pressure, with sources anticipating another drop for April after the $200/mt plunge for March, to $590/mt CFR from February’s $790/mt CFR. Lower natural gas prices continue to be cited.

NOLA barge prices were also under pressure, with buyers saying they can do better than the current $535/st FOB. Some cited levels in the low-$400s/st FOB for new business, though no actual transactions or specific prices were confirmed.

Eastern Cornbelt:

Ammonia producers dropped prices once again in the Eastern Cornbelt on March 7-8. Sources said both Koch and CF lowered prices to $725/st FOB terminals in Illinois and Indiana, down from $840-$850/st FOB, with new offers at East Dubuque, Ill., also falling to the $725/st FOB level. The latest prices in Ohio were reported in the $740-$750/st FOB range at midweek.

Western Cornbelt:

Ammonia prices in the Western Cornbelt moved down again during the week, with no movement to the field reported. “Some guys are on the cusp, but the weather isn’t promising for the next two weeks,” said one southern Iowa source. “There are a lot of people who need to buy tons once it does go.”

Ammonia prices were quoted at $670-$710/st FOB in the Western Cornbelt, down from $725-$840/st FOB, with the low reported at Beatrice, Neb., and the high at Marshalltown, Iowa. Other terminal prices at midweek included $685/st FOB Sergeant Bluff, Iowa, and Palmyra, Mo., and $700/st FOB Iowa terminals at Garner, Fort Dodge, and Washington.

In the Southern Plains, new ammonia offers out of Oklahoma production points slipped to $585-$600/st FOB, down from $610-$625/st FOB, with the Coffeyville, Kan., market quoted at the $610/st FOB mark for new business.

Northern Plains:

Ammonia prices dropped to $670-$700/st FOB terminals in the Northern Plains in early March, depending on location, down significantly from the $840-$850/st FOB range reported in mid-February. Delivered pricing was pegged at $750-$775/st in the region, below the previous $850-$870/st DEL level.

Black Sea:

Sources said the ammonia sold to a Turkish buyer earlier in the month came from Qatar at a reported $520/mt CFR. Earlier reports showed a price about $30/mt higher, with sourcing from either Iran or North Africa. One trader said the price into Turkey translates to about $420/mt FOB from the Arab Gulf.

Limited business in the area has made nailing down prices into Turkey more difficult. Sources said the slowdown in demand is being experienced around the world, leaving traders with fewer data points for potential spot deals.

Ammonia import numbers for Turkey were released during the week. According to Trade Data Monitor, Turkish buyers imported 113,000 mt in January, up 36% from the 83,000 mt reported for January 2022. Oman sent 35,000 mt, followed by Bahrain with 23,000 mt. Libya sent 21,000 mt.

Russian media stepped up reporting of the new TOAZ port being built on the Tamar peninsula. According to the Russian company, work on the port will allow for 2 million mt/y of ammonia to be shipped out. Further enhancements to the facility, to be done in 2024 and 2025, will each increase the capacity by 1.5 million mt/y, for a total capacity of 5 million mt/y. Sources said that some of the existing facilities designed to handle natural gas will be restructured to deal with ammonia.

European sources continue to cast doubts that the facility will become operational in the time frame set by the company. Traders noted that besides having to improve the jetty facilities and build storage tanks to handle large quantities of ammonia, the basic rail infrastructure leading into the port will require a great deal of work.

Russia is pushing for the quick completion of the port so it can resume exporting ammonia. No Russian ammonia has passed through the Black Sea since the Togliatti-Odessa pipeline was closed due to the war in Ukraine.

India:

Prices remained steady, but only because buyers appeared to take a break. Sources said demand into India is slow because many of the DAP producers are taking routine maintenance turnarounds at their facilities. Production is expected to resume in April.

Middle East:

The netback to the Arab Gulf from a sale into Turkey was reported at $420-$425/mt FOB. This, said one source, represents a sizable drop in the price out of the Arab Gulf, but one that fits with estimates on the way the market has been moving.

Producers have been reluctant to discuss pricing as the global ammonia market began softening. Sources said that some producers only serviced their long-term contracts and stayed away from potential spot deals to avoid setting a new price for the market.

Even with the new lower price for the spot market from the region, sources said there is still a lot of room available for a further drop in pricing. Steady buyers from Asia were said to be holding off taking tons under their contracts until the last minute. They were also said to be pushing for lower prices for the contracted tons.

January-February exports from Iran totaled 98,000 mt, Trade Data Monitor reported, up 40% from the year-ago 71,000 mt. India was the primary buyer, taking 95,000 mt. February exports were 77,000 mt, up from 51,000 mt in February 2022.

Northwest Europe:

Sources said the lack of new spot deals makes pegging the market price difficult. By all rights, said one trader, the price should be lower than the posted $600-$620/mt CFR, noting that production costs are going down – as are ammonia prices – in the rest of the world. For now, sources said, the price is unchanged.

Thailand:

Trade Data Monitor reported January ammonia imports at 46,000 mt, up from the year-ago 8,400 mt. Malaysia sent 29,000 mt, representing 62% of the imports, while China added 14,000 mt.

Brazil:

Exports for January-February were 33,000 mt, Trade Data Monitor reported.The US was the largest buyer of Brazilian ammonia, taking 18,000 mt, followed by South Africa with 15,000 mt.

January-February imports totaled 38,000 mt, with all of the tons coming from Trinidad and Tobago.February imports were reported at 23,000 mt, up 36% year-over-year from 17,000 mt.

Urea

Africa, Black Sea, Brazil, China, Eastern Canada, Eastern Cornbelt, India, Indonesia, Market Watch, Middle East, Northeast, Northern Plains, Sri Lanka, Thailand, U.S. Gulf, Urea, Western Cornbelt

US Gulf:

NOLA urea barges were quoted at $290-$315/st FOB for March business, down from last week’s $310-$335/st FOB. The upper end of the range was reported early in the week, with new business falling to $295-$305/st on March 7. Trades at the $290/st FOB level were confirmed at midweek before prices once again eased up to the $300-$305/st FOB level on March 9.

“I think we will see that price stay around there until we get some more direction from India and US demand kicks in,” said one contact.

Eastern Cornbelt:

Urea remained under pressure in the Eastern Cornbelt, with new offers quoted at $370-$375/st FOB Cincinnati, Ohio, down from $380-$390/st FOB. In the Great Lakes region, sources reported urea pricing at $415-$420/st FOB Toledo, Ohio, for March-April tons.

Western Cornbelt:

Urea was quoted in a broad range at $350-$390/st FOB in the Western Cornbelt, with the low reported at Port Neal, Iowa. The St. Louis, Mo., urea market remained at the $370/st FOB level for the latest offers.

Northern Plains:

Urea pricing fell to $360-$430/st FOB in the Northern Plains, down from $380-$440/st FOB, with the low confirmed for river-open tons at St. Paul, Minn., and the high reported at Carrington, N.D. Delivered urea was pegged at $450-$470/st in the region, below the $480-$500/st DEL levels reported in mid-February.

Northeast:

The low end of the regional urea market remained at $395/st FOB East Liverpool, Ohio, while new offers FOB Fairless Hills, Pa., were quoted in a wide range at $405-$425/st FOB, depending on time of shipment. Urea pricing FOB Baltimore, Md., slipped to $430-$440/st FOB for new offers, down $10/st from last report.

In the South Central region, new urea pricing FOB Convent, La., reportedly dropped to $365/st FOB, down from $385/st FOB.

Eastern Canada:

Urea slipped to C$720-$875/mt FOB in Eastern Canada, down significantly from the C$880-$1,020/mt FOB range reported in mid-February.

India:

In the end, Indian Potash Ltd. (IPL) held to its statement that it would only import 1.1 million mt in this tender. When sources saw that 3.27 million mt were offered in the tender, many in the industry figured that IPL could take up to 2.5 million mt. Sources said the Indian government had reportedly granted IPL permission to take the larger amount if it wanted.

After receiving the lowest offers from OQ Trading and Liven, IPL counterbid the next two lowest-offering companies proposing West Coast deliveries, and the next four lowest-offering companies with East Coast offers. All six trading houses accepted the prices set by OQ at $330/mt CFR for the West Coast, and by Liven at $334.80/mt CFR for the East Coast. In the end, some received smaller awards than they were hoping for.

Award for West Coast Delivery at $330/mt CFR
Company Quantity (mt)
OQ Trading (L1 WCI) 225,000
Swiss Singapore 250,000
AgriCommodities 100,000
Total WCI 575,000
Award for East Coast Delivery at $334.80/mt CFR
Company Quantity (mt)
Liven (L1 ECI) 45,000
Swiss Singapore 190,000
Midgulf 150,000
OQ Trading 90,000
Continental 50,000
Total ECI 525,000
Total Awards 1,100,000

Liven and OQ had their tons locked in as the lowest offering companies. The resulting total of 1.1 million mt will be added to the approximately 1.5 million mt India will receive through June 1 from contracts, such as its deal with OMIFCO. Sources said the contract and tender tonnage, along with domestic production, should be enough to get Indian farmers well into the second half of the year. Another tender will most likely be called with a closing date during the last week of May.

Once it was clear that IPL would not take anything more than what they advertised, sources said that urea markets around the world showed increased softness. The surplus that will be left following this tender will continue to provide downward pressure on prices. Brazil, another major urea buyer, saw a drop in prices on the heels of the Indian awards announcement. Many producers went silent, knowing they would not like the prices being bid.

Chinese and Arab Gulf producers are reportedly still unwilling to talk about the lower prices forced on them by the tender. The netback to the Arab Gulf was put at $310-$315/mt FOB, and to China at $315-$320/mt FOB. Sources said going into the tender that everyone expected the Arab Gulf to play a major role in supplying tons. So far, said sources, it has been difficult finding out who will be sourcing product for the West Coast India tons. Sources speculated that some Russian cargoes might be in play.

The East Coast suppliers are also said to be having some “interesting” talks with Chinese suppliers who object to the lower price. One trader said that given the long shipping deadline, traders will most likely be able to get supplies as prices remain under pressure.

One rumor floating around was based on reports that a Chinese trader bought three cargoes of Russian prills for shipment to China. Sources suggested the tonnage may turn around and be re-exported to India under the tender.

Black Sea:

Rumors are circulating that Russian material may play a role in the Indian tender. Reports that a Chinese trader bought three cargoes of Russian prills for delivery to China led to speculation that the tons may end up being re-exported to India as part of the awards issued by IPL.

The price for prilled urea out of the Black Sea is reported at $305-$325/mt FOB.

Igsas reportedly closed a tender on March 8 for 50,000 mt of granular urea. So far, no information is available on who participated or on the offering prices. There have been other inquiries for small lots from industrial buyers, and buyers looking for lower prices will be focusing on Russian and Iranian tons. Those looking for immediate shipment with no concerns about pricing could cut a deal with Egyptian producers.

Urea imports to Turkey were counted at 298,000 mt in January, according to Trade Data Monitor, a 72% increase from 173,000 mt in January 2022. Oman led suppliers with 127,000 mt, Egypt sent 81,000 mt, and tons from Russia totaled 69,000 mt.

Indonesia:

No word was reported either from producers or the government about a new selling tender. The last tender took the market by surprise and settled at $349/mt FOB. The results of the Indian tender show a softer market, leading producers to hold off.

Middle East:

The netback to the Arab Gulf from the Indian West Coast was put at $310-$315/mt FOB. This represents a drop of at least $20/mt from the last publicly traded deal.

Producers offered 90,000 mt into the IPL tender at $350-$353/mt FOB. Sources said the move appeared to be an effort to prop up prices in a falling market. Reportedly, the producers did not respond to a counterbid by IPL.

There are reports that some producers are pushing back against the estimated netback price by refusing to talk with traders about the Indian tender. Some of awarded traders were reportedly looking to the Arab Gulf for backing. Sources said the producers will most likely back off eventually, and accept the price well before the tender’s June 1 shipping deadline.

One bit of support for the producers came from reports that the estimated netback to the Arab Gulf from the Sri Lanka Ministry of Agriculture tender is about $330/mt FOB. However, sources quickly pointed out that the winning award will most likely not involve Arab Gulf material.

January-February exports from Iran stood at 443,000 mt, according to Trade Data Monitor, up marginally from the year-ago 429,000 mt. Turkey was Iran’s largest buyer, taking 201,000 mt, followed by Iraq with 70,000 mt. South Africa and Vietnam each took 62,000 mt.

February exports were reported at 249,000 mt, up 69% from 147,000 mt recorded in February 2022. Turkey took 53% of the material at 132,000 mt, followed by South Africa with 62,000 mt.

Egyptian producers remained quiet, focusing on fulfilling their sales to traders covering European deals.

China:

The netback to China from the India tender was put at $315-$320/mt FOB. Producers were said to be unhappy with the almost $80/mt drop in pricing from the last public deal.

Prices have been slipping in the Chinese market because the government has been enforcing its restrictions on exports, guaranteeing full warehouses throughout the country. If agreements are reached with producers to cover some of the 525,000 mt going to India’s East Coast, sources said the traders and producers might need the tender’s full shipping period, open through June 1, to make sure all of the government-mandated export paperwork is properly processed.

Reports are circulating that a Chinese trader bought three cargoes of Russian prilled urea for delivery to a Chinese port. Sources speculated that the tons will be processed and reloaded on a vessel to cover an award from the Indian tender.

Thailand:

Imports of urea for January totaled 62,000 mt, Trade Data Monitor reported, doubling Thailand’s 31,000 mt imported in January 2022. Malaysia supplied 55% of the imports, sending 34,000 mt, followed by Oman with 23,000 mt.

Sri Lanka:

The Ministry of Agriculture closed a tender for 25,000 mt of granular urea this week. Valency International reportedly had the low offer with $399.75/mt CIF bagged. The next two lowest offers, from Ameropa and Liven, were within $4/mt of the Valency offer. The rest of the offers were above $412/mt.

Sources estimated the netback to the Arab Gulf at $330/mt FOB. However, the winning tender will most likely come from Russia or Iran, according to traders. No awards were reported as Green Markets went to press.

Brazil:

The market reacted to the results of the Indian tender with falling prices. Sources said the market is now down to $330-$335/mt CFR, with unconfirmed reports of a deal at $325/mt CFR.

Sellers are hoping this latest price drop represents the floor. Some argued that once the US starts buying, the market price will rebound, and they expected US buyers to enter the market soon.

Rondonopolis was pegged at $500/mt FOB ex-warehouse, a drop of about $60/mt. Sources put the decrease to limited demand and the news from India.

Trade Data Monitor reported January-February urea imports at 1 million mt, off 10% year-over-year from 1.1 million mt. The two main suppliers were Oman with 248,000 mt and Nigeria with 277,000 mt.

February imports were pegged at 349,000 mt, down 53% from 738,000 mt imported in February 2022. Nigerian tons totaled 111,000 mt, followed by 69,000 mt from Algeria.

Ethiopia:

January-February urea imports were counted at 100,000 mt, according to Trade Data Monitor, up from 3 mt recorded through the same period of 2022. All of the imports were from Egypt.