Generic Hero BannerGeneric Hero Banner
Últimas notícias do mercado

Strong domestic demand cuts Indonesia’s 1H urea exports

  • Mercados: Fertilizers
  • 11/08/23

Indonesia's urea exports fell by 22pc on the year over January-June, as state-controlled Pupuk Indonesia turned its attention to stronger demand in the domestic market.

Exports totalled 641,900t for the period, GTT data show. Major urea producer and exporter Pupuk Indonesia opted to meet strong domestic demand in the first half of the year, resulting in fewer exports of spot cargoes.

Urea exports fell continuously from January-April and in June, with May being the exception when exports rose on the year because of ureal supply tightness in major Asian markets. Pupuk Indonesia in May issued a tender to sell urea to meet regional demand, as other southeast Asia producers had retreated from the spot market because of production issues at their plants.

Philippines was the top destination for Indonesian urea during January-June, with exports rising by 71pc on the year to 145,200t. Exports to Vietnam rose by 92pc to 85,500t, mainly because of a surge in deliveries during May-June as Vietnamese demand picked up with the onset of more rainfall. But exports to Australia fell by 47pc to 116,200t, with the lowest shipments recorded in April and June.

Indonesia's urea exports in June fell by 25pc on the year to 152,700t. Shipments to the Philippines marked a near sixfold increase from a year earlier to 59,600t, while exports to Vietnam were nearly three times higher than a year earlier at 26,000t.

But exports are likely to fall in July as Pupuk Indonesia remained out of the spot market during the month and delayed issuing its tender to sell urea owing to internal matters and domestic market commitments. The producer returned to the spot market on 9 August, awarding a tender to sell a combined 35,000t of urea for export.

Indonesia's urea exports '000t

Compartilhar
Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more