Market Updates·18 September 2026

Weekly Update - Global Fertilizer Market | Week Ending 17.09.2026

UREA

Global urea prices continued their upward trend this week, driven by additional purchasing demand from Europe amidst growing supply and shipping risks in the Middle East.
Asia: market focus remains largely on awaiting precise details regarding China's third batch of urea export quotas
Market reports indicate that China has granted an additional export quota batch of approximately 1.5 million tonnes, but detailed information regarding allocation volumes and export schedules is not yet available.
This week recorded a Saudi Arabian vessel carrying urea transiting the strait for the first time since mid-August.
Iran: Producers announced official price offers this week at $350/t FOB.
China (Prilled Urea): Export prices increased from $350–365/t FOB late last week to $360–365/t FOB (September 15)
Egypt (Granular Urea): $515–530/t FOB
Brazil (Granular Urea): $465–500/t CFR

Global export availability remains constrained as China maintains its policy of suspending DAP and MAP exports for the remainder of the year to ensure domestic supply ahead of the winter storage season
DAP prices are unchanged at $900-945/t CFR southeast Asia due to an inactive market
Bangladesh: Awards for the remaining 400,000t of DAP under the government's latest private-sector tender have still not yet emerged
Egypt: State producer NCIC issued a tender to sell 25,000t of DAP (closing 21 September), replacing its 1 September tender of 10,000t which closed without awards
India: Strong import demand continues to draw in DAP cargoes, maintaining Indian DAP import prices at $915/t CFR
Indian companies continue to issue buy tenders: NFL has tendered to buy 50,000t of DAP, HURL has issued a tender for 50,000t of DAP and RCF has issued tenders to buy 30,000t of DAP/MAP as well as 35,000t of phosphate rock

The global MOP market is facing downward price pressure due to off-season conditions across most major consuming regions
Laos: Kaiyuan Shengtai expects to start up its 50,000 t/yr standard SOP plant in October, targeting direct exports to Vietnam and Thailan
Shipping freight rates from the Baltic Sea to Southeast Asia remain elevated at $75–90/t

Russia: 20,000t of 8-20-30+Mg and 3,000t of 17-6-18 sold to Latam
India: RCF awards tender for 50,000t of 15-15-15 to Chasemax at low $510s/t CFR
Brazil: 15,000t of 15-15-15 sold at $540/t CFR for Sept-loading. Fresh offers emerging this week at $550-560/t CFR
Southeast Asia: Import prices for 15-15-15/16-16-16 are steady at $550-580/t CFR. Bulk indications for Russian nitrate-based 15-15-15/16-16-16 have held at $580/t CFR and above, but no deals have emerged as importers stayed on the sidelines
Vietnam: Producers continue to receive regular NPK enquiries from the Philippines, but no deals have yet emerged
China: More offers emerged amid reports CIQ approved cargos of NP and along with OM-containing NP, NPS and NPK could be exported. Notional prices for 16-20-0 are assessed at $415-435/t FOB, while those for 14-14-14 are $445-465/t FOB, both unchanged
Thailand: Prices for imported 16-20-0+13S are unchanged at $530-540/t CFR in the absence of fresh business. No new offers, bids or deals were reported.

High raw material costs force producers to hold prices steady or raise offers, preventing sharp declines despite weak buying demand
But in India, prices for other grades could decline as import needs become less pressing