Brazilian urea imports more than triple in January 2014 year on year

20 February 2014 13:12 Source:ICIS News

LONDON (ICIS)--Brazilian urea imports in January 2014 more than tripled the volume imported in the same month of last year, according to data released this week by the Foreign Trade Secretariat (SECEX).

Imports in January 2014 totalled 449,242 tonnes compared to 146,946 tonnes in January 2013.

Imports were also slightly higher month on month, with Brazil having imported 424,696 tonnes in December 2013.

The main supply source in January was Russia with 72,645 tonnes, up by 31% from January last year.

Brazil urea imports: January

(‘000 tonnes)

Supplier

2012

2013

2014

Russia

91

55

73

UAE

-

-

70

Venezuela

-

-

65

Qatar

-

29

54

Kuwait

25

-

47

Argentina

29

28

47

China

-

10

41

Oman

-

-

33

Belarus

62

-

17

Total

324

147

449

Source: SECEX/GTIS


Brazilian urea buying has been strong through January and so far in February, and trader sources expect that there is further demand ahead of the Carnival holidays at the end of February.

Latest price indications were heard at $405-410/tonne CFR for granular urea and in the $360s/tonne CFR for prilled urea.

By Rebecca Clarke