The price for Egyptian urea has jumped from $355/mt FOB to $359/mt FOB just in Monday trading. The run-up in prices is reportedly because of strong demand from Latin America and the possibility of another Indian tender being called soon. Egypt closed last week with a high price of $350/mt FOB. Chinese producers are also offering granular at $350/mt FOB, a jump of $5-$10/mt from last week.
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