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Fertilizer Price Movements Last Week: Still Falling, Still Losing

PART:
1 2 3 4 5 6 7 8
Part 2
Fertilizer Price Movements Last Week: Still Falling, Still Losing PART 2 OF 8

Ammonia Prices Declined Last Week, but by How Much?

Ammonia prices decline

For the week ended July 29, 2016, ammonia prices were mostly negative across various points. Ammonia is the fundamental fertilizer for various nitrogen and phosphate products.

Ammonia Prices Declined Last Week, but by How Much?

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North America

For the week ended July 29, 2016, ammonia prices moved sideways to negative week-over-week at four price points in North America.

  • At Tampa, ammonia declined an average of 1%1 to $2822 per metric ton CFR (cost and freight), from $285 per metric ton a week ago. Ammonia prices hit a ~five-year3 low to $270 per metric ton last week.
  • At the US Gulf NOLA (New Orleans), ammonia prices declined an average of 1% to $287 per metric ton CFR week-over-week. Prices at this point also hit a ~five-year low at $275 per metric ton last week.
  • Average weekly ammonia prices at Southern Plains traded flat last week. They were $340 per short ton ($308 per metric ton).
  • Average weekly ammonia prices at the Corn Belt of North America also traded flat last week. Average weekly prices stood at $415 per short ton ($376 per metric ton). Prices were at their lowest point in the last five years.

Ammonia prices at the above four points fell an average of 39%, 39%, 32%, and 27% YoY (year-over-year), respectively. Last week’s flat prices for ammonia highlight the continued weakness in the agricultural environment (MXI), pressuring companies such as Agrium (AGU), Terra Nitrogen (TNH), CVR Partners (UAN), and CF Industries (CF).

Outside North America

Last week, average ammonia prices outside North America remained weak. Average weekly prices in the Black Sea fell 11.9% to $214 per metric ton from the previous week’s average of $243 per metric ton. Similarly, in Western Europe, average weekly ammonia prices fell 9.6% to $274 per metric ton CFR from an average of $303 per metric ton a week ago. At both points, ammonia prices hit their five-year lows of $210 and $270 per metric ton CFR, respectively, last week.

Ammonia prices in the Middle East fell 1.7% to an average of $284 per metric ton free on board week-over-week, down from $289 per metric ton. The prices at these three points in the international market fell 47%, 40%, and 30% YoY, respectively.

In the next part, we’ll look at urea prices.

  1. All price changes are rounded to the nearest tenth of a percent.
  2. weekly average price
  3. from November 2011 to July 2016
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