Record Low Price of Brazil's Urea at $324/Ton

Record Low Price of Brazil

In June 2023, the import price of urea in Brazil reached a record low price of $324 per ton, showing a decrease of -2.7% compared to the previous month. The import price experienced a significant decline during the period under review. The most rapid growth rate occurred in September 2022 when the average import price increased by 3.4% month-to-month. Although average import prices peaked at $783 per ton in June 2022, they remained at lower levels from July 2022 to June 2023. Among the major supplying countries, the United Arab Emirates ($328 per ton) and Russia ($327 per ton) had the highest prices in June 2023, while Nigeria ($298 per ton) and Venezuela ($306 per ton) had the lowest prices. Urea imports in Brazil decreased by -33.3% to 395K tons in June 2023 after two months of growth. The imports showed a noticeable descent during the period under review. The most significant growth rate was recorded in April 2023 with a 32% increase compared to the previous month. In terms of value, urea imports dramatically declined to $128M in June 2023. The imports experienced a sudden slump, with the highest growth rate occurring in April 2023 with a 21% increase month-to-month. Russia, Qatar, and Oman were the main suppliers of urea imports to Brazil, accounting for 65% of total imports. Saudi Arabia, Nigeria, the United Arab Emirates, Venezuela, and Algeria followed closely behind, comprising an additional 30%. Among the main suppliers, Saudi Arabia recorded the highest rate of growth in terms of purchases with a CAGR of +13.0% from June 2022 to June 2023. In terms of value, Russia, Qatar, and Oman were the largest urea suppliers to Brazil, holding a combined 65% share of total imports. Saudi Arabia, with a CAGR of +4.8%, saw the highest growth rate in the value of imports compared to the other leading suppliers.

Source: IndexBox Market Intelligence Platform

Comments

Post a Comment

Popular posts from this blog

Top Countries for Importing Chocolate and Confectionery Products Worldwide

Image
Chocolate and confectionery products have always been beloved treats across the globe due to their delicious flavors and indulgent qualities. As a result, the chocolate and confectionery industry has become a thriving sector, with many countries involved in the import and export of these delightful treats. In this article, we will discuss the leading import markets for chocolate and confectionery products worldwide, supported by data and statistics from the IndexBox market report. 1. United States The United States holds the top spot as the largest import market for chocolate and confectionery products with an impressive import value of $10.366 billion in 2022. The American population's deep love for sweets makes it a highly sought-after destination for confectionery imports. With a wide range of options available, from artisanal chocolates to iconic candy brands, the U.S. market caters to the diverse preferences of chocolate and confectionery enthusiasts. The country's large c...
Read more

The Primary Rye Import Markets Worldwide

Image
Rye has been a dietary staple for centuries, offering versatility and nutrition. It is commonly utilized in the production of various food and beverage items, including bread and whiskey. While many countries cultivate rye domestically, there are several significant import markets that contribute to the global rye trade. This article explores the top import markets for rye, their import values, and key statistics. Germany: Leading the Rye Imports Germany holds the title of the largest global rye importer, with an import value of $115.9 million in 2022 (IndexBox data). This is not surprising considering Germany's strong tradition of rye-based products such as bread and beer. The country's consumers have a strong preference for high-quality rye products, appreciating their versatility and unique flavor. Germany's rye imports have been steadily increasing over the years and are expected to continue. The country's robust economy and strict food safety and quality standards ...
Read more

Sharp Drop in Turkey's July 2023 Imports of Lentils to $53M

Image
Turkey Lentil Imports In July 2023, the import of lentils into Turkey witnessed a significant reduction, plummeting to 79,000 tons, down by 36.1% compared to the previous month. However, overall imports maintained a relatively stable trend. The most notable growth was observed in November 2022, with a staggering 451% month-on-month increase. In terms of value, the import of lentils experienced a substantial decline, reaching $53 million (according to IndexBox estimates) in July 2023. Throughout the period under review, imports showed a noticeable downward trend, with the highest growth rate occurring in November 2022, soaring by 450% compared to the previous month. Imports by Country In July 2023, Canada emerged as the largest lentil supplier to Turkey, contributing 67,000 tons and capturing an 85% share of the total imports. This figure was more than ten times higher than the second-largest supplier, Kazakhstan, which accounted for 2,200 tons. From July 2022 to July 2023, the average ...
Read more