Urea
The local granular urea market remains slow, with some demand in Queensland for the summer crop, but none elsewhere, resulting in flat prices.
Granular urea was last assessed at A$795-810/t Geelong fca.
A supplier is understood to have lined up an Indonesian granular urea cargo for its east coast distribution network, loading 15-19 November. But overall activity was muted apart from this purchase, with the market still firmly in its off-season.
CSBP lowered its urea price by A$9/t to A$869/t ex-Kwinana on 30 October.
Phosphates
No significant buying interest for MAP has emerged locally, with growers focused on the grain harvest. Demand has been tempered by high international free on board (FOB) prices, which are starting to ease.
WesCEF
Wesfarmers Chemicals, Energy and Fertilisers reported declines in returns for the financial year to 30 June 2024 because of lower international commodity prices, the company said on 30 October.
Elders
Australian agribusiness Elders has completed its A$475m acquisition of fellow agribusiness Delta Ag on 4 November. The acquisition was announced in November of 2024, before being flagged and later approved by the Australian Competition and Consumer Commission.
Agrimin scraps SOP project
Australian sulphate of potash (SOP) developer Agrimin will scrap its SOP project in Lake Mackay, Western Australia, because of a lack of investment.
Agrimin will start to exit the project because of the lack of potential funders, tenement rent and shire rates, as well as an absence of offers to purchase or fund advancement, the company said on 23 October.
Commentary and pricing supplied by Argus Media
Disclaimer: The information provided in this report is general in nature and is intended for informational purposes only.