Fertilizers
Overview
The fertilizer industry has seen dramatic changes in market dynamics, with challenges posed by policy and regulatory changes, political instability, conflicts and new macroeconomic realities. The drive towards energy transition and ambitious zero-carbon goals has also opened up the industry to new entrants and new opportunities.
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Iran launches maritime authority, insurance platform
Iran launches maritime authority, insurance platform
London, 19 May (Argus) — Iran has launched a new maritime authority to tighten its control over shipping in and around the strait of Hormuz. It has also introduced an insurance platform to provide cover for Iranian shipping and cargoes transiting the waterway. The Persian Gulf Strait Authority (PGSA) will manage navigation through the waterway, while the "Hormuz Safe" platform will offer "secure digital insurance for maritime cargo" for Iranian vessels transiting it. The PGSA will act as the legal authority representing Iran in managing transit through the strait, according to Iran's semi-official Fars news agency. Vessels intending to transit the waterway will receive rules and regulations from the authority and must obtain a permit to pass, state news agency Press TV said. Ships must comply with this framework. Passage without permission will be considered illegal, Fars reported. Iran claimed control of a broader area of the strait and surrounding waters on 4 May, from the western-most point of Iran's Qeshm Island to Umm al-Quwain on the UAE's west coast, and from Kuh Mobarak in Hormozgan province to southern Fujairah on the UAE's east coast. Separately, the Hormuz Safe platform will provide Iranian shipping companies and cargo owners with "fast, verifiable digital insurance", according to its web page. It will offer cover for cargoes in the Mideast Gulf and surrounding waterways, with payments settled in cryptocurrency. There is no indication that Hormuz Safe policies extend beyond Iranian ships and cargoes. Iran has launched the initiatives as geopolitical tension remains high in the Mideast Gulf. The US and Israel's war with Iran has involved strikes on shipping in and around the strait of Hormuz, pushing up western insurance costs and sharply reducing traffic through the waterway. A ceasefire is now in place, but the Iranian Revolutionary Guard Corps' tight control of the strait and a US naval blockade of Iranian ports continue to weigh on exports of oil, gas and other commodities from the region. Iran created an official PGSA account on social media platform X on 18 May to provide operational updates and developments related to shipping through the strait. By Leonard Fisher-Matthews Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Egypt’s NCIC issues fertilizers sales tender
Egypt’s NCIC issues fertilizers sales tender
London, 19 May (Argus) — Egyptian fertilizer producer NCIC has issued a tender to sell various fertilizers, closing on 21 May. NCIC is offering the following products: 20,000t of DAP — it reported selling 30,000-35,000t at up to $915-917/t fob Adabiya/Damietta in a tender that closed on 4 May 25,000t of SSP — it sold 20,000t at $340-375/t fob Ain Sokhna in its 27 April tender and offered 30,000t in its 4 May tender, but did not report a sale 15,000t of granular urea — it reported selling 25,000t at up to $865/t fob Adabiya in its 4 May tender 5,000t of CAN26 — it last sold 5,000t at up to $412/t fob in its 20 April tender 600t of water-soluble SOP — it reported selling 1,000t at up to $721/t bagged ex-works in its 4 May tender The DAP, SSP, urea and CAN will be sold on fob basis, and NCIC said they will be ready for loading at Damietta port in the Mediterranean. The SOP will be sold in 25kg bags on an ex-works basis from NCIC's Fayoum plant. Buyers are to load the cargoes within 37 days from receiving the invoice. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Saudi Arabia's Sabic loads urea vessel at Yanbu: Update
Saudi Arabia's Sabic loads urea vessel at Yanbu: Update
Adds vessel name Amsterdam, 19 May (Argus) — Saudi Arabian fertilizer producer Sabic has completed the loading of 25,000t of granular urea at the port of Yanbu on the Red Sea, marking the first bulk loading of urea on the west coast as shipments out of the Mideast Gulf are still heavily constricted. There was no comment on pricing, but the Courtesy K is understood to be destined for Bangladesh under Sabic's long-term government-to-government contract. Another granular urea cargo is scheduled to load for Bangladesh from Yanbu later this month. The urea was trucked from the production hub of Jubail to Yanbu for loading, meaning that around 1,250 truckloads of 20t each would have had to be delivered to the port for this cargo alone. The move follows the same strategy carried out by fellow Saudi fertilizer producer Maaden, which trucked phosphates from its Ral Al-Khair site to Yanbu for export in March in the wake of the war in the Middle East, which has resulted in the effective closure of the strait of Hormuz since the end of February. Sabic has been producing urea at Jubail and loading vessels since the war began, with Argus tracking at least 15 vessels loaded with Saudi urea in the Gulf yet to navigate the strait. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Pakistani DAP stocks slip in April
Pakistani DAP stocks slip in April
London, 18 May (Argus) — A lack of imports saw domestic sales erode Pakistani DAP stocks in April. But affordability for buyers and suppliers conserving stocks is putting offtake under pressure. Pakistan began May with 203,000t of DAP in stock, down by 11,000t from the start of April, according to the National Fertilizer Development Centre. Pakistan did not import any DAP last month, while domestic production was typical, at 74,000t. Domestic offtake almost halved to 85,000t, compared with March. But cumulative sales of 376,000t in January-April remain ahead of previous years, outpacing the average for January-April in 2023-25 by around 51,000t. Pakistani farmers and retailers anticipated that the globally bullish trend in DAP prices, primarily driven by the war in the Middle East, will eventually be felt in the domestic market and bolstered their stocks accordingly. Pakistan is now in its typical off-season, but the drop in offtake last month also reflects importers conserving their stocks and domestic prices testing farmers' affordability. Distributors expect DAP offtake to remain under pressure, seeing farmers prioritise nitrogen and potentially looking to other sources of phosphate, such as SSP and NPs. Prices for DAP from warehouses at Karachi have risen by 1,581 rupees/50kg bag — equivalent to around $114/t at current exchange rates — at the midpoint since the start of 2026. The latest stock total is in line with DAP inventories at the end of April 2025. But this is the third consecutive monthly fall in stocks. National DAP stocks had been growing since the beginning of January at the end of April last year and went on to grow for another three months. No DAP is lined up to arrive this month. But importers have lined up 60,000t of DAP, likely to arrive in June. This includes 20,000t of Moroccan DAP and 40,000t of Saudi Arabian DAP . May-June offtake in 2023-25 averaged 201,000t. If no more DAP imports are lined up, and if domestic offtake and production remain typical, national stocks are likely to remain largely unchanged by the end of June. If DAP stocks wither as distributors forecast, this could allow stocks to recover slightly. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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