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Monday, December 11, 2023

Market Morsel: Strong Urea imports into Australia (once again)

Market Morsel

The information is now in for September urea imports into Australia. Urea imports and schedule have actually been a subject of contention for the majority of this year as products decreased, and farmers were asked to acquire to guarantee they got access to products.

We have actually been watching on import volumes to identify whether products have actually been readily available or not. The information typically informs the story.

In the very first chart below, we can see the cumulative imports of urea into Australia. Through to the end of September, 2.83 mmt of urea has actually been imported throughout the nation. This is a record volume, 319kmt greater than the previous record. This is a surplus above the production from the mothballed IPL center on Gibson Island.

The 2nd chart reveals urea imports and a theoretical IPL production from Gibson Island. This is to reveal an in theory readily available supply within Australia.

The information informs us that supply is most likely sufficient in Australia, and throughout the year, volumes of imports have actually been really strong.

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