Urea prices rose last week
Last week, granular urea prices in the NOLA (New Orleans) region of the United States rose 40 basis points week-over-week to $226 per metric ton, from $225 per metric ton the previous week (or $249 per short ton from $248 per short ton).
Brazil, however, saw a steep increase in prices of granular urea last week to $293 per metric ton, a 5% weekly gain from $279 per metric ton the previous week. Note that urea prices were at their highest level since the week ended March 30, as you can see in the above chart.
Year-over-year, the price of urea rose significantly in the week ended June 29. For example, the price of granular urea in the NOLA region rose 56% year-over-year from $145 per metric ton. In Brazil, the price of granular urea rose 47% year-over-year from $200 per metric ton.
Next, let’s take a look at the price of natural gas, which is a key input cost for urea.