Nitrogen
Overview
The ease of urea availability east and west of Suez has shaped the current trade flows of this key nitrogen fertilizer. Despite challenges posed by energy prices and military conflicts, key import markets such as India, Australia, and Latin America remain robust. But structural oversupply and the role of China as a swing exporter have led to price volatility as this fast-moving market seeks equilibrium, more so during seasonally high-demand periods.
Our extensive nitrogen coverage includes prilled and granular urea, UAN, ammonium nitrate, and ammonium sulphate. Argus has many decades of experience covering the nitrogen market and incorporates our multi-commodity market expertise in key areas including ammonia and natural gas to provide the full market narrative.
Argus support market participants with:
- Daily and weekly nitrogen price assessments, proprietary data and market commentary
- Short and medium to long-term forecasting, modelling and analysis of urea prices, supply, demand, trade and projects
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Latest nitrogen news
Browse the latest market moving news on the global nitrogen industry.
India’s urea stocks post largest monthly drop in July
India’s urea stocks post largest monthly drop in July
Amsterdam, 19 August (Argus) — Indian urea inventories fell by 2.46mn t last month, marking the steepest monthly drawdown in stocks on Argus 's record. The country's urea sales rocketed to 5.4mn t in July , setting a fresh sales record for any month, in line with provisional data which emerged in the first week of August. The surge in sales outstripped combined production of 2.57mn t and imports of 407,000t. The stock drawdown in July was greater than the cut of 2.32mn t in July 2020. Argus estimates India's urea inventories ended July at around 4.3mn t, compared with 8.7mn t at the end of the month last year. A strong start to the monsoon rain period and tight supply of DAP have encouraged Indian urea sales. Urea offtake typically peaks in July-August for the summer Kharif season. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Malaysia turns to ammonium chloride as amsul costs rise
Malaysia turns to ammonium chloride as amsul costs rise
Singapore, 15 August (Argus) — Malaysian importers could turn to procuring more ammonium chloride (AC) over standard caprolactam-grade ammonium sulphate (amsul) fertilizers for the rest of 2025 as a cheaper alternative to the latter, according to market participants. Ammonium chloride is a by-product of the Solvay process where ammonia, CO2, and sodium chloride are combined to produce soda ash. Since AC has a relatively high nitrogen content of around 25pc, it is often used as a substitute for other nitrogen fertilizers such as amsul, which has a lower nitrogen content of 21pc. AC fertilizers are sold at lower prices compared to amsul, mainly because its chlorine content is highly acidic and could potentially damage the soil upon repeated application. As Malaysian importers are more price-sensitive, they have consistently opted to apply AC to their crops as a cheaper nitrogen source and as an alternative to amsul. Standard AC offers to southeast Asia were in the high-$90s/t cfr in the week to 15 August, while Argus assessed standard caprolactam-grade amsul at $185-190/t cfr southeast Asia in the same week. AC imports to Malaysia in January-June were stable from the previous year at 354,000t, according to the latest Global Trade Tracker data. China is the main AC supplier to Malaysia, accounting for 353,300t. But amsul imports to Malaysia fell by 25pc on the year to 331,000t in January-June. Deliveries from China slipped by 38pc on the year to 238,000t, while imports from Japan and Taiwan rose slightly to 33,700t and 30,100t respectively. Standard caprolactam-grade amsul prices in January to June this year have been higher at $169/t cfr on an average midpoint basis, compared to $154/t cfr in the same period last year, according to Argus data. The higher prices could have discouraged importers from readily purchasing large volumes of amsul, leading them to adopt a hand-to-mouth purchasing strategy. At current prices, AC costs approximately $386/t on a dollar per tonne nitrogen basis, while amsul costs around $893/t. Amsul is twice as expensive compared to AC on a pure nutrient basis, which has encouraged Malaysian importers to make the switch to AC. AC is mainly used on oil palm plantations, because the crop is hardier and more resistant to damage from repeated applications of AC. Malaysian importers will likely continue to procure more AC this year because it is comparatively more affordable. But an ongoing 60-day customs inspection approval process for Chinese AC exports could mean importers must secure cargoes earlier to ensure timely arrival for application. By Dinise Chng Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
India’s NFL issues tender to buy 2mn t of urea
India’s NFL issues tender to buy 2mn t of urea
Singapore, 15 August (Argus) — Indian fertilizer importer NFL has issued a tender to buy 2mn t of prilled and granular urea, closing on 2 September. It has requested 1mn t each for the east and west coasts. The cargoes are to load by 31 October, and offers are to be valid until 10 September. The tender follows soon after fellow importer IPL's urea tender, which was finalised this week with purchases of 2.075mn t. By Dinise Chng Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Philippines’ urea imports could slow in 3Q 2025
Philippines’ urea imports could slow in 3Q 2025
Singapore, 12 August (Argus) — The Philippines' urea demand is expected to soften in the third quarter of the year because of poor rice prices and sufficient urea inventories. Rice prices in the Philippines have been falling because of ample rice supply. The country posted a record-high 9.08mn t of domestic rice production in the first half of the year. This surpassed previous rice production volumes of 8.53mn t in 2024, and 9.02mn t in 2023, according to the Philippine Department of Agriculture. Bumper rice harvests in the international market and the lifting of India's rice export ban also contributed to the ample supply. Nationwide rice stocks in the Philippines came in at 2.81mn t as of 1 July, comprising commercial, household and national food authority reserves. An influx of cheaper rice imports led some private traders to purchase rice at 8-10 pesos/kg ($140-175/t), well below production costs of 12-14 pesos/kg ($209-245/t). The Philippine government suspended all rice imports for 60 days starting from 1 September to stabilise local rice prices and protect farmers from cheaper imported rice. Local premium rice prices rose slightly to 46-57 pesos/kg ($804-997/t) following news of the import ban, while premium imported rice prices in Metro Manila were 42-48 pesos/kg ($734-839/t). Lower rice prices this year could likely still reduce farmers' ability to buy fertilizers, despite this measure. Inventories Import demand for urea fertilizers slowed significantly in July and early August, as stocks were enough to meet domestic needs, according to importers. Some farmers also reduced fertilizer application during this period when rice prices were lower. Total urea imports to the Philippines in January-June rose by 26pc on the year to 395,000t, supported by higher deliveries from Brunei, China and Vietnam. Deliveries from Brunei in the first half of the year rose by 22pc to 58,900t. Imports from China rose to 27,500t compared with just 800t last year, after China opened its export window for bulk urea cargoes. Imports from Indonesia and Malaysia fell by 4pc to 120,500t and by 12pc to 79,000t respectively, but the volumes remained high. Increased urea purchasing in the first half of the year was largely due to a normal monsoon season this year, compared with drought-like conditions in the year earlier. Any potential carry-over urea stock would also impact the Philippines' fertilizer requirements in the third quarter of the year. Importers currently face slowing domestic demand as the main urea application season typically ends in August. Bad weather and previous typhoons in the Luzon region could dampen fertilizer demand in August as farmers recover from the crop damage, and delay vessel unloading at some ports. The halt in Chinese exports of small bags of fertilizers will also drive importers to slow their urea purchasing in the third quarter. By Dinise Chng Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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