Weekly Summary 08

 
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A startup spring campaign supports prices in the fertilizer markets
Despite the weakness of oil, prices in the fertilizer markets continued in January with a moderate to moderate rise.
A major factor in the firmness of the fertilizer markets is the forthcoming Northern Hemisphere spring campaign, which has already started in places.
Granular urea in the Mediterranean and the Middle East has risen by about $ 20 per tonne over the last 4 weeks, reaching levels of $ 250-260 per tonne on the FOB base.
With winter crops starting to feed, fertilizer markets in the Black Sea region are also on the rise, with urea levels in Russia rising by nearly $ 50 to $ 270 at the end of January.
Although much smoother, Urea prices in the US are also rising, adding $ 10-15 to $ 230-235 since late January.
The markets for phosphate and potassium fertilizers are taking into account the appreciation.
Current levels of Mono-ammonium phosphate (IDA) in the US reach $ 400-430, against $ 350-380 earlier this year.
Potash fertilizers (Potash) are even more expensive, adding $ 70-80 per tonne to $ 365-375 compared to the beginning of the year.
 
Highlights:

Total EU oil and fat production is
it is projected to decrease by 0.7 million tonnes or by 3% in Q2
this season.
 
The competitiveness of European cow butter has been noted
global market growth. Exports of this product from the EU
increased significantly and reached a 12 – year high of
0.18 million tonnes in 2019 while imports declined.
Sunflower oil production in Russia for
2019 it reached 5261 thousand tonnes (compared to 4425 thousand tonnes from the
2018).
Processing of the three main oilseeds
(sunflower, rapeseed and soy) in Ukraine reached
a significant 18.0 million tonnes in January / December
2019, which is 2.5 million tons more than the same
period of the previous year.
 
Canola processing in August / July
In 2019/20 it is expected to reach 9.6 million tonnes, which will be with
0.3 million tonnes more than last season.