Weekly Update - Global Fertilizer Market | Week Ending 22.10.2026

UREA fertilizer

• The global urea market remained broadly stable this week, with prices largely holding steady across major markets. Buying activity slowed compared with the previous week, while weaker affordability and increased import supply continued to limit upward price momentum.

• Bangladesh has resumed operations at five urea plants following increased LNG imports, helping improve domestic supply.

• Myanmar: import demand is estimated at around 30,000 tonnes of granular urea for delivery from December to early January.

• Brunei: BFI closed a tender to sell 30,000 tonnes for November delivery, with the result still pending.

Granular urea price range:

Brazil: $470–485/t CFRSoutheast Asia: $470–480/t CFRChina: $425–435/t FOB, prilled urea: $345–352/t FOB

DAP & MAP fertilizers

• Although rising ammonia costs are putting pressure on producers, falling sulphur prices and weak market demand continue to outweigh this factor, preventing DAP prices from increasing.

• Southeast Asia: DAP prices remained unchanged WoW amid a lack of fresh business.

• Australia: The MAP/DAP market remained largely stable, with little change from the previous week.

• Myanmar: An importer is seeking 500–1,000t of DAP for delivery in December–January.

• Russia: With China halting exports, Russia is currently the main supplier with sufficient MAP volumes available to supply the Brazilian market.

• Egypt: A bid for DAP at $850/t FOB received no response from sellers.

• Morocco (OCP): DAP export availability for November shipment remains very limited. Bangladesh is currently the main export destination for DAP shipments from Jorf Lasfar port.

• China: DAP export prices remained unchanged at $870–907/t FOB.

• Brazil: Daily MAP prices remained unchanged at $830–850/t CFR.

NPK fertilizer

• Southeast Asia: Import prices for 15-15-15 / 16-16-16 NPK remained unchanged at $550–580/t CFR.

• Vietnam: Import interest from destination markets such as Myanmar and the Philippines remained limited, with no new bids, deals or offers reported.

• Thailand: Prices for imported 16-20-0+13S remained stable at $530–540/t CFR. The vessel Benjamin Confidence discharged 34,000t of bulk NPK from South Korea at Ko Sichang port on 18 October 2026.

• Myanmar: High fertilizer costs continued to weigh on farmers' purchasing power, prompting importers to hold back from purchasing new cargoes.

• China: Notional prices for 16-20-0 and 14-14-14 held steady at $408–435/t FOB and $445–465/t FOB. Suppliers continued to withhold offers for conventional NP, NPS and NPK grades pending greater clarity on exports. Offers may not emerge until after the spring application season in April–May next year.

• India: Prices for 10-26-26 NPK continued to fall around $596–598/t CFR. Demand weakened as dry monsoon conditions reduced Rabi-season planting areas.

• Brazil: The end of the season narrowed the price range for 15-15-15 to $500/t CFR.