UREA imports continue as supplies remain scarce

Gleadell Agriculture's fertiliser imports continue as MV Letoon unloads 7,000 mt of granular Urea from Alexandria Fertiliser at the company's Immingham dockside agri-bulk facility.

"This is our second vessel of granular Urea this season and we have product to offer in bulk or in bags for December/January at a time when supplies are scarce, "said Calum Findlay, Gleadell's fertiliser trader (pictured here). "Some have questioned the rapid pace of price increase in the Nitrogen market, but demand still continues to outstrip availability and prices have continued to firm."

Mr Findlay pointed out that most of the Egyptian granular Urea becoming available is destined for Europe as the US remains unable to compete. Egypt can continue to rely on the European market well in to January/February, leaving less options for the US who still have volumes to buy.

"The US market has yet to come to terms that there is price competition for a limited product, and this lack of product could lead to a further price explosion as we enter Spring 2008," he warned.