Urea prices fall and Russia cuts export quota

The fertilizer market closed last Friday (17) with a drop in Urea prices in various markets. According to a daily report from StoneX, the 2025 contracts fell by 1 dollar, while the January 2026 contract dropped by 10 dollars. The downward pressure was driven by the price range below expectations for the Indian tender, bringing values to levels well below those recorded in the previous week. In the case of Brazil, the contract ended the week at $423 per ton, with a more moderate decline, while contracts for the Middle East also registered slight declines. In addition, Russia announced the export quota for fertilizers for the period from December 1, 2025, to May 31, 2026. The defined volume will be 18.7 million tons, which represents a 6.5% reduction compared to the same period last year. Of this total, 10.6 million tons correspond to nitrogen fertilizers — almost 2 million tons less than the previous year — and 8 million tons refer to complex fertilizers, widely used in global ...