U.S. - Urea - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact
Urea Price per Ton May 2022
U.S. Urea Import Price per Ton May 2022
In May 2022, the urea price per ton amounted to $704 (CIF, US), surging by 70% against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $717 per ton in January 2022; however, from February 2022 to May 2022, import prices failed to regain momentum.
From January 2022 to May 2022, the most notable rate of growth in terms of prices was attained by Russia (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Urea Imports
After four months of growth, supplies from abroad of urea decreased by -49.1% to 585K tons in May 2022. Over the period under review, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in March 2022 with an increase of 58% against the previous month. Imports peaked at 1.1M tons in April 2022, and then declined dramatically in the following month.
In value terms, urea imports shrank to $412M (IndexBox estimates) in May 2022. Overall, total imports indicated resilient growth from January 2022 to May 2022: its value increased at an average monthly rate of +8.6% over the last four-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on May 2022 figures, imports decreased by -13.3% against April 2022 indices. The pace of growth appeared the most rapid in March 2022 when imports increased by 39% m-o-m. Imports peaked at $475M in April 2022, and then reduced in the following month.
U.S. Urea Imports by Country
Russia (169K tons), Qatar (99K tons) and Canada (68K tons) were the main suppliers of urea imports to the United States, with a combined 58% share of total imports. Nigeria, Oman, Saudi Arabia and Azerbaijan lagged somewhat behind, together accounting for a further 32%.
From January 2022 to May 2022, the biggest increases were in Nigeria (with a CAGR of +32.3%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest urea suppliers to the United States were Russia ($111M), Qatar ($66M) and Nigeria ($60M), together comprising 58% of total imports.
Nigeria, with a CAGR of +37.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
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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