Aussie Ferts Weekly Wire

Update on Global Urea Market: The global urea market is currently experiencing uncertainty due to softer energy markets and economic conditions. However, recent developments in Indian Potash Limited's tender have brought some positivity to suppliers. Key Trends: In the Middle East, spot prices are supporting values of at least $370pt fob, $15pt higher than March lows. Indian Potash Limited's tender has received lowest offers of $385pt cfr west coast and $398.24pt cfr east coast. Brazil: Offers have eased, with Qatari granular urea quoted at $383pt cfr. Market Outlook: The volumes booked in Indian Potash Limited's tender will shape nearby market fortunes. Counters are expected to be issued soon, which will provide further insight into market trends. The FX impact on fertiliser imports is expected to be unfavourable.

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