Demand from the agricultural sector remained the primary driver behind the urea price increase. Farmers and distributors across key US farming regions accelerated procurement ahead of the spring planting season, when nitrogen fertilizer consumption typically reaches its peak. Urea buyers also rushed to secure supply amid concerns over potential global shortages linked to geopolitical developments.
The fertilizer market faced significant disruptions after the United States and Israel launched military strikes on Iran on February xx. The incident triggered widespread uncertainty across global fertilizer trade, particularly due to the strategic importance of the Middle East in nitrogen fertilizer exports.
The situation intensified after tanker movement through the Strait of Hormuz slowed sharply following the escalation of conflict. The waterway is a critical global shipping route, and its disruption threatens nitrogen fertilizer exports ahead of the Northern Hemisphere planting season. Market analysts warn that prolonged disruption could lead...
