NewsFlashMay Tampa ammonia settles down $60

23 April 2008 17:08  [Source: ICIS news]

HOUSTON (ICIS news)--Ammonia supplier Yara has settled its ammonia contracts for May deliveries to Tampa at $550/tonne (€347/tonne) down by $60/tonne from April, market sources said on Wednesday.

Yara settles the monthly CFR (cost and freight) contract with US fertilizer firms Mosaic and CF Industries.

The contract price had been expected to fall because wet weather in the US midwest has slowed the start of the US spring application season and backed up ammonia storage through the supply chain.

But the decline in Tampa contract prices from the record $635/tonne in March has itself been slowed by a surge in fertilizer values amid global attention to food shortages and efforts by China in particular to rein in its fertilizer exports.

($1 = €0.63)

By: Stephen Burns
+1 713 525 2653

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