Nitrogen fertilizer sector heading for a notential surplus?

摘要

MANY FERTILIZER PRODUCTS are still trading at historically high levels although they have come down significantly from the peaks seen in 2008. Urea, a type of nitrogen fertilizer, for example, reached record highs in August-September 2008 of around US$740 a tonne, FOB, for Middle East granular product, and US$770 a tonne, FOB Black Sea prilled product, both key benchmarks. Urea out of the key export destinations is currently trading at between US$390 and US$410 a tonne, FOB, still substantially above the 2005 level of around US$200 a tonne, FOB.