15 December 2011 17:03 [Source: ICIS news]
HOUSTON (ICIS)--The contract price of benchmark US Tampa ammonia for all January shipments decreased 15% from December, a source close to the negotiations said on Thursday.
The settlement between Yara and its customers brings the contract to $555/tonne (€427/tonne) CFR (cost and freight), down $95/tonne from the $650/tonne December price.
The Tampa price has responded to recent $90–95/tonne decreases in the price of ammonia in the Middle East and Ukraine.
US farmers are projected to plant 92m–94m acres of corn in 2012, possibly surpassing the 93m-acre record set in 2007.
($1 = €0.77)
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