Morning. Int'l paper activity stalling somewhat at end of last week, as mkt waits to see how IPL tender unravels. Paper framed close of week:
AG
Dec $390//$408
Jan $388//$398
_[Jan traded $392 last week]_
Cfr Brazil
Nov $412//$417
Dec $395//$410
Jan $388//$400
_[Jan traded $384-$393 range l/w]_
Egypt
Dec $440//$465
Jan $410//$455
Nola
Paper:
Dec $370//$380
Jan $365//$377
Feb $370//$385
Mar $375//$385
Apr $370//$385
May $370//$380
Q1 $370//$385
UAN Nola
Dec $290//$315
Jan $290//$325
Feb $290//$320
DAP Nola
Dec $655//$695
Jan $640//$650
Feb $642//$650
Q1 $635//$650
MAP Brazil
Dec $615//$640
Jan $610//$650
AMS Brazil
Dec $165//$175
Jan $155//$172
According to market players, Nutrien has recently purchased an ammonia spot cargo, presumably 25,000—30,000 t, from Koch at $690—695/t CFR for December shipment to Northwestern Europe. The commodity may be originating from Trinidad and Tobago. Nutrien’s self-imposed Trinidadian facility shutdown, which began on 23 October, has apparently made the company look for alternative sources of ammonia, buying the material on the spot market to supply its customers
thyssenkrupp Uhde Fertilizer Technology (UFT), our licensing company of thyssenkrupp Uhde, has signed contracts with the Nigerian company Dangote Fertiliser Limited (DFL) to provide UFT® Fluid Bed Granulation Technology for four new urea granulation trains as part of four new fertilizer complexes.
The new trains will be located in Lekki Nigeria and enable efficient, low-emission production of urea with production capacity of 4,235 metric tons each per day.
Over 70% of global urea granule output is achieved using the UFT® Fluid Bed Granulation Technology, making a significant contribution to ensuring the world’s food supply. Emissions remain well below the legally mandated limits for urea and ammonia.
*Demand surges*
Importers are seeking 28+ tons.
In accordance with the "Measures for the Procurement and Auction Transactions of Building Storage for Nitrogen, Phosphorus, and Composite Fertilizers under the National Commercial Fertilizer Reserve System," the results of the auction transactions for nitrogen, phosphorus, and composite fertilizers held on November 21 are hereby announced as follows:
On November 21, the number of orders placed was 264,102 tons, and the number of transactions was 100,732 tons. Among these, the number of transactions for urea was 37,676 tons, with an average transaction price of 1,670.11 yuan/ton; the number of transactions for diammonium phosphate was 63,056 tons, with an average price of 3,950.95 yuan/ton.
The bidding and trading for nitrogen, phosphorus, and compound fertilizers will continue on the following Tuesday at 10 am. All participating enterprises are advised to prepare for the transaction accordingly.
China Agricultural Production Material Circulation Association
National Cotton Trading Market
November 21, 2025
Bangladesh Fortifies Agricultural Resilience with 220,000-Ton Fertilizer Import Plan
🔹 The Advisers Council Committee on Government Purchase (CCGP) yesterday approved a series of fertilizer import proposals totaling 220,000 tons to strengthen the country's stock and ensure uninterrupted supply ahead of the upcoming cultivation seasons.
The approvals came from the 46th meeting of the Advisers Council Committee on Government Purchase (CCGP) in this year held yesterday at the Cabinet Division Conference Room at Bangladesh Secretariat with Finance Adviser Dr Salehuddin Ahmed in the chair.
🔹 The committee endorsed the procurement of 30,000 metric tons of bagged granular urea fertilizer from Karnaphuli Fertilizer Company Limited (KAFCO), Bangladesh under the 9th lot for FY 2025-26. The Industries Ministry placed the proposal with a total value of 11.67 million US dollars, while the per-ton price has been fixed at US$389.
🔹 In a separate decision, the committee approved the import of 40,000 metric tons of bulk granular urea fertilizer from SABIC Agri-nutrients Company, Saudi Arabia, also under the 9th lot.
🔹 The state purchase involves an expenditure of 15.85 million US dollars, with the per-ton price set at US$396.41. Officials said the consignment will help maintain adequate buffer stocks as demand rises during peak agricultural activity.
The yesterday meeting further cleared several major consignments of Di-Ammonium Phosphate (DAP) fertilizer under the Agriculture Ministry's proposals routed through the Bangladesh Agricultural Development Corporation (BADC).
🔹 These include: Procurement of 40,000 metric tons of DAP fertilizer under the 7th lot from Banyan International Trading Limited, China, at a total cost of 28.55 million US dollars, with the per-ton rate at US$713.75; 40,000 metric tons of DAP under the 11th lot from MA'ADEN, Saudi Arabia, at a cost of 28.52 million US dollars, with a per-ton price of US$713.
🔹 The procurement also includes an additional 40,000 metric tons of DAP under the 12th (Optional-1) lot, also from MA'ADEN, for 28.52 million US dollars, maintaining the same per-ton rate of US$713.
🔹 In another approval, the committee cleared the import of 30,000 metric tons of Triple Super Phosphate (TSP) from OCP Nutricrops, Morocco, under the 13th lot. The BADC-proposed procurement amounts to 15.48 million US dollars, with the per-ton price fixed at US$516.
Officials said the combined fertilizer imports would significantly reinforce national stock levels, ensuring seamless supply to farmers and safeguarding agricultural productivity.
The approvals also align with the government's broader strategy to stabilise input markets and support food security amid global supply fluctuations.
The Hastings Fertilizer Plant Leak on Monday released a large amount of anhydrous ammonia into the air, triggering an emergency alert in Adams County and forcing several nearby businesses to evacuate. Officials say the leak lasted for hours before crews brought it under control.
Adams County Emergency Manager Ron Pughes said the incident began shortly after 12 p.m. at MacroSource, located in the 4900 block of J Street. The leak occurred during repairs on a storage tank that holds anhydrous ammonia, a nitrogen fertilizer widely used by Nebraska farmers.
Why the Hastings Fertilizer Plant Leak Raised Concern
Anhydrous ammonia is a powerful nitrogen source, said Ron Seymour, cropping systems extension educator at the University of Nebraska–Lincoln.
“It’s nitrogen bonded with four hydrogen atoms, and it’s essential for crop production,” he said.
Farmers typically inject the gas into soil during spring or fall to prevent evaporation. They apply about one pound of nitrogen for every 56 pounds of corn.
However, leaks like the Hastings Fertilizer Plant Leak remain rare.
“I’ve been here 25 years, and we’ve never had a leak this large,” Seymour said. “Suppliers usually follow strict safety procedures to protect their staff and the community.”
Evacuations and Safety Measures After the Leak
Central Community College, about one mile away, reported a strong ammonia smell.
Even so, officials said conditions never reached evacuation thresholds. Staff monitored the situation until the odor faded.
Pughes said the plant’s location prevented a more dangerous outcome.
“If this happened closer to Hastings or inside one of our villages, it could have been far more serious,” he said. “If you get caught in an ammonia cloud, you’re in real danger.”
Company Statement and Investigation
MacroSource LLC issued a statement shortly after the emergency response began:
“An ammonia release occurred today at our Hastings, Nebraska facility at 4935 E J St. Our team immediately activated emergency procedures and notified local emergency services. The situation is contained and poses no health risk to the surrounding community.”
The company also said it follows strict environmental and safety standards and has launched a full investigation into the Hastings Fertilizer Plant Leak.
US DAP imports suffered a drastic reduction from June, culminating in a 99% lower volume in August in the annual comparison. In the accumulated from 2025 to August, the retraction reached 49.2%, with the total imported falling from 1.12 million tons in 2024 to 567.5 thousand tons this year.
PhosAgro-Region began the production of granulated ammonium sulphate at its distribution centre in Vyselki, in Krai de Krasnodar, as announced by CEO Andrey Vovk at the YUGAGRO 2025 fair. The new operation aims to meet the demand of farmers in Kuban and neighbouring regions with greater logistical efficiency and reliability, taking advantage of the fact that the territory consumes about 10% of the 400,000 tons of the input applied annually in the country. The initiative is part of the company's technological development strategy, which plans to expand the range of products manufactured on site in the future.
As of November 20, 2025 (week 47), the theoretical profit of China's urea sample enterprises: the theoretic profit of the coal-made stationary bed process was -307 yuan / ton, an increase of 6.12% from last week. The theoretical profit of coal water mixture is 69 yuan / ton, 12.66% lower than that of last week. The theoretical profit of the gas processing process – 288 yuan / ton, a decrease of 2.13% from last week. Main reasons: Coalhead costs were stable this week, mainly affected by changes in urea prices, and profits were somewhat adjusted. Gashead costs slightly adjusted due to a slight fluctuation in natural gas prices, and its profits were narrowly weaker.
Urea estimate: Due to reference to Jinan coal prices, which are relatively high, Therefore, by reference to the actual market coal prices, we can calculate the cost level of the industry in the mainstream region, the complete cost of fixed beds is about 1,600-1700 yuan / ton, and the complete cost for new coal gasification is about 1,400-1500 yuan a ton, while the profit level of the enterprises in the mainstream regions is about negative 200-positive 200 yuan each.
Morning. Stand-off on Int'l paper y'day after IPL price discovery, but no counters issued, and more info awaited. In Nola, Urea paper bids scaled back, Mar phys traded high-$380s, while Jan DAP paper traded $7 down from day prior/low-$640s.
AG
Nov $405//$412
Dec $390//$410
Jan $388//$398
Cfr Brazil
Nov $410//$416
Dec $397//$414
Jan $388//$400
Egypt
Nov $480//$500
Dec $440//$465
Jan $420//$455
Nola
Phys: Mar traded $387.50
Paper:
Dec $370//$380
Jan $373//$380
Feb $375//$385
Mar $375//$385
Apr $370//$385
May $370//$380
Q1 $372//$385
UAN Nola
Nov $315//$330
Dec $290//$315
Jan $290//$325
Feb $290//$320
DAP Nola
Nov $725//$750
Dec $655//$695
Jan $640//$650 – traded $643
Feb $642//$655
Q1 $640//$655
MAP Brazil
Nov $645//$665
Dec $615//$640
Jan $610//$650
AMS Brazil
Nov $165//$178
Dec $165//$175
Jan $155//$172
Analysis of today's market situation
The current domestic urea market situation shows that enterprise prices continue to rise strongly. Under the influence of market sentiment, the pace of market follow-up has slowed down. There is a possibility that the market may experience a period of stagnation or a correction. However, the impact of upcoming or delayed Indian tender announcements on the market should also be considered. Given the fundamental factors, it is likely that the adjustments will occur as planned or be postponed, after which downstream industries will continue to make purchases at favorable prices.
For the period from January to October 2025, the top 5 fertilizer and raw material varieties by import volume in China were: 1) Other types of potassium chloride excluding pure potassium chloride, 9.8809 million tons, 2) Sulphur, 8.6987 million tons, 3) Phosphate rock (unprocessed), 137.61 tons, 4) Nitrogen-phosphorus-potassium ternary compound fertilizer, 99.11 million tons, and 5) Ammonia, 34.03 million tons.
For the month of October 2025, China imported 688,900 tons of sulfur, 1,218,600 tons of potassium chloride (including pure potassium chloride), 133,200 tons of nitrogen-phosphorus-potassium ternary compound fertilizer, and 5,100 tons of ammonia.
China imports
4464700 Mts total offered in <This message was edited>