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Urea price index

This post is a summary of the global Urea price developments. The price developments of Urea are expressed in US$ prices converted FX rates applicable at the time when the price was valid. Urea price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.

The outlook for global Urea prices, on the second tab, is generated from different inputs including:

  • Very recent price developments of immediate cost drivers of global Urea prices
  • Recent price developments of underlying feedstocks which drive the price of Urea
  • Market futures for both cost drives and feedstocks of Urea prices
  • Adjustment of current supply/demand imbalances in the Urea market
  • Longer term trends in likely demand conditions

Further information on the Urea price index

Here is some further information

 

What is Urea

Urea is a white, crystalline solid that is highly soluble in water. It is an organic compound with the chemical formula NH2CONH2. Urea is produced by the body as a byproduct of metabolism and is excreted in urine. It is also produced industrially as a raw material for a wide range of products.

 

How is Urea produced

There are several methods for producing urea industrially. The most common method is called the Haber-Bosch process, which involves combining nitrogen gas and hydrogen gas to produce ammonia. The ammonia is then reacted with carbon dioxide to produce urea. Other methods for producing urea include the carbon dioxide-ammonia process, the oxamide process, and the urea-formaldehyde process.

 

What is Urea used for

Urea has a number of uses. It is a component of fertilizers and is widely used in agriculture to improve soil fertility and crop yields. It is also used in the production of plastics, resins, and adhesives. Urea is an important component of many skin care and personal care products, such as lotions and creams, as it has hydrating properties. It is also used in the production of animal feed and as a component of some pharmaceuticals. Urea is a nitrogen-rich compound and is a valuable source of nitrogen for plants and animals.

 

Further reading

 

Trade Information

According to https://oec.world/ :

Urea, including aqueous solution in packs >10 kg are the world’s 199th most traded product.

In 2020, the top exporters of Urea, including aqueous solution in packs >10 kg were Russia ($1.55B), China ($1.5B), Saudi Arabia ($1.21B), Qatar ($1.15B), and Egypt ($1.11B).

In 2020, the top importers of Urea, including aqueous solution in packs >10 kg were India ($2.53B), Brazil ($1.63B), United States ($991M), Australia ($615M), and Thailand ($568M).

Data source: IMF

This data has been partly provided by the IMF and the World Bank. The only change is that it has been indexed for Jan 2019 (so Jan 2019 is set as the index 1.00). The data is provided subject to the terms and conditions as defined by the IMF

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Notes on the price-data

  • We aim to update the data series on the 11th and 25th of each month (but we do not always make it for each chart)
  • The data for the current month and recent history are fine-tuned over time.
  • We are continually improving our data collection and processing methods and data will be updated from time to time as we improve the accuracy
  • We are working hard to upgrade the algorithm before April 1, 2023 and a further fine-tune by July 1, 2023
  • This the index trend of the price of the product group in general and not a single specification in particular
  • The source of the data are exclusively public non-confidential sources
  • We combine public publications, import/export records, company announcements, and sources of ad-hoc public information.
  • The chart shows the price trend,  nearly always taken from many statistically-correlated sources 
  • The data is presented in US$. The UOM of measure is shown in the Index list table
  • We do our best to create an accurate representation of the trend
  • Although we believe the price trend to be accurate, we assume no responsibility or liability for any errors or omissions in the content of this site.
  • The information is provided on an “as is” basis with no guarantees of completeness, accuracy, usefulness, fitness for purpose or timeliness.
  • By their nature, outlooks are always uncertain
  • We are working on 500 additional indexes which will be released over time when we are content that it is accurate.
  • Feel free to contact us if you have a specific request.
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