U.S. - Urea - Market Analysis, Forecast, Size, Trends And Insights
U.S. Urea Price Fails to Regain Q1 Peaks after Bottoming Out
U.S. Urea Import Price per Ton July 2022
In July 2022, the urea price per ton stood at $532 (CIF, US), shrinking by -5.7% against the previous month. Over the period under review, the import price saw a noticeable slump. The pace of growth appeared the most rapid in May 2022 an increase of 70% against the previous month. The import price peaked at $717 per ton in January 2022; however, from February 2022 to July 2022, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($666 per ton), while the price for the Netherlands ($351 per ton) was amongst the lowest.
From January 2022 to July 2022, the most notable rate of growth in terms of prices was attained by Canada (-0.4%), while the prices for the other major suppliers experienced a decline.
U.S. Urea Imports
In July 2022, purchases abroad of urea decreased by -58.8% to 179K tons, falling for the third month in a row after four months of growth. In general, imports showed a deep downturn. The growth pace was the most rapid in March 2022 when imports increased by 58% against the previous month. Over the period under review, imports attained the peak figure at 1.1M tons in April 2022; however, from May 2022 to July 2022, imports failed to regain momentum.
In value terms, urea imports contracted markedly to $95M (IndexBox estimates) in July 2022. Over the period under review, imports faced a abrupt contraction. The most prominent rate of growth was recorded in March 2022 when imports increased by 39% month-to-month. Imports peaked at $475M in April 2022; however, from May 2022 to July 2022, imports remained at a lower figure.
U.S. Urea Imports by Country
In July 2022, Qatar (98K tons) constituted the largest supplier of urea to the United States, with a 55% share of total imports. Moreover, urea imports from Qatar exceeded the figures recorded by the second-largest supplier, Canada (48K tons), twofold. Russia (26K tons) ranked third in terms of total imports with a 15% share.
From January 2022 to July 2022, the average monthly rate of growth in terms of volume from Qatar was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Canada (+3.9% per month) and Russia (-14.1% per month).
In value terms, Qatar ($47M), Canada ($32M) and Russia ($12M) constituted the largest urea suppliers to the United States, together accounting for 96% of total imports.
Canada, with a CAGR of +3.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
This report provides an in-depth analysis of the urea market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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