Urea Price Monthly and Annualy
Urea's Price in International Commodity Markets in October 2023 is about 411.38 dollars per metric tonne estimated by World Bank. In the Previous Month, September 2023 urea worth was 380.00 dollars per metric tonne. Last year in October 2022 the price was 636.25 dollars per metric tonne.
Urea Price in Last 12 Months World Bank
Source: World-bank
Last Updated: 06 Dec 2023
| 13 | October 2022 | $ 636.25 | - | - |
| 12 | November 2022 | $ 588.75 | $ -47.50 | -8.07 % |
| 11 | December 2022 | $ 519.38 | $ -69.37 | -13.36 % |
| 10 | January 2023 | $ 443.75 | $ -75.63 | -17.04 % |
| 9 | February 2023 | $ 357.50 | $ -86.25 | -24.13 % |
| 8 | March 2023 | $ 313.50 | $ -44.00 | -14.04 % |
| 7 | April 2023 | $ 313.38 | $ -0.12 | -0.04 % |
| 6 | May 2023 | $ 329.25 | $ 15.87 | 4.82 % |
| 5 | June 2023 | $ 287.50 | $ -41.75 | -14.52 % |
| 4 | July 2023 | $ 334.63 | $ 47.13 | 14.08 % |
| 3 | August 2023 | $ 385.63 | $ 51.00 | 13.23 % |
| 2 | September 2023 | $ 380.00 | $ -5.63 | -1.48 % |
| 1 | October 2023 | $ 411.38 | $ 31.38 | 7.63 % |
Urea Price Annual World Bank
The estimated price of urea in 2022 reached $700.02 per metric ton. This figure highlights the cost of this essential agricultural fertilizer, which plays a vital role in enhancing crop yields and maintaining food production.
In the preceding year, 2021, the price of urea stood at $483.21 per metric tonne. The price of urea is subject to various factors, including global supply and demand dynamics, market conditions, and input costs.
In the year 2022, there was a significant net change in the price of urea, with an increase of $216.81. This translates to a substantial rise of approximately 30.97% compared to the previous year.
Source: World-bank
| 1960 | $ 42.25 | - | - |
| 1961 | $ 42.25 | $ 0.00 | 0.00 % |
| 1962 | $ 42.25 | $ 0.00 | 0.00 % |
| 1963 | $ 42.25 | $ 0.00 | 0.00 % |
| 1964 | $ 60.50 | $ 18.25 | 30.17 % |
| 1965 | $ 65.75 | $ 5.25 | 7.98 % |
| 1966 | $ 59.25 | $ -6.50 | -10.97 % |
| 1967 | $ 49.25 | $ -10.00 | -20.30 % |
| 1968 | $ 35.50 | $ -13.75 | -38.73 % |
| 1969 | $ 26.60 | $ -8.90 | -33.46 % |
| 1970 | $ 18.25 | $ -8.35 | -45.75 % |
| 1971 | $ 16.00 | $ -2.25 | -14.06 % |
| 1972 | $ 29.25 | $ 13.25 | 45.30 % |
| 1973 | $ 64.75 | $ 35.50 | 54.83 % |
| 1974 | $ 285.75 | $ 221.00 | 77.34 % |
| 1975 | $ 168.00 | $ -117.75 | -70.09 % |
| 1976 | $ 82.00 | $ -86.00 | -104.88 % |
| 1977 | $ 120.76 | $ 38.76 | 32.10 % |
| 1978 | $ 136.04 | $ 15.28 | 11.23 % |
| 1979 | $ 153.00 | $ 16.96 | 11.08 % |
| 1980 | $ 200.56 | $ 47.56 | 23.71 % |
| 1981 | $ 182.50 | $ -18.06 | -9.90 % |
| 1982 | $ 123.96 | $ -58.54 | -47.22 % |
| 1983 | $ 114.54 | $ -9.42 | -8.22 % |
| 1984 | $ 150.17 | $ 35.63 | 23.73 % |
| 1985 | $ 111.63 | $ -38.54 | -34.52 % |
| 1986 | $ 70.75 | $ -40.88 | -57.78 % |
| 1987 | $ 82.50 | $ 11.75 | 14.24 % |
| 1988 | $ 113.54 | $ 31.04 | 27.34 % |
| 1989 | $ 102.96 | $ -10.58 | -10.28 % |
| 1990 | $ 115.65 | $ 12.69 | 10.97 % |
| 1991 | $ 138.40 | $ 22.75 | 16.44 % |
| 1992 | $ 117.60 | $ -20.80 | -17.69 % |
| 1993 | $ 85.54 | $ -32.06 | -37.48 % |
| 1994 | $ 93.89 | $ 8.35 | 8.89 % |
| 1995 | $ 126.86 | $ 32.97 | 25.99 % |
| 1996 | $ 153.69 | $ 26.83 | 17.46 % |
| 1997 | $ 117.49 | $ -36.20 | -30.81 % |
| 1998 | $ 83.22 | $ -34.27 | -41.18 % |
| 1999 | $ 65.94 | $ -17.28 | -26.21 % |
| 2000 | $ 100.92 | $ 34.98 | 34.66 % |
| 2001 | $ 96.45 | $ -4.47 | -4.63 % |
| 2002 | $ 94.42 | $ -2.03 | -2.15 % |
| 2003 | $ 138.19 | $ 43.77 | 31.67 % |
| 2004 | $ 174.91 | $ 36.72 | 20.99 % |
| 2005 | $ 217.35 | $ 42.44 | 19.53 % |
| 2006 | $ 222.14 | $ 4.79 | 2.16 % |
| 2007 | $ 307.11 | $ 84.97 | 27.67 % |
| 2008 | $ 514.98 | $ 207.87 | 40.36 % |
| 2009 | $ 251.08 | $ -263.90 | -105.11 % |
| 2010 | $ 288.90 | $ 37.82 | 13.09 % |
| 2011 | $ 398.92 | $ 110.02 | 27.58 % |
| 2012 | $ 398.60 | $ -0.32 | -0.08 % |
| 2013 | $ 339.61 | $ -58.99 | -17.37 % |
| 2014 | $ 308.44 | $ -31.17 | -10.11 % |
| 2015 | $ 277.94 | $ -30.50 | -10.97 % |
| 2016 | $ 194.13 | $ -83.81 | -43.17 % |
| 2017 | $ 213.88 | $ 19.75 | 9.23 % |
| 2018 | $ 249.45 | $ 35.57 | 14.26 % |
| 2019 | $ 245.28 | $ -4.17 | -1.70 % |
| 2020 | $ 229.10 | $ -16.18 | -7.06 % |
| 2021 | $ 483.21 | $ 254.11 | 52.59 % |
| 2022 | $ 700.02 | $ 216.81 | 30.97 % |
Introduction
Urea, a widely used nitrogenous fertilizer, plays a crucial role in enhancing crop productivity. As an essential component in agriculture, understanding the dynamics of urea prices is vital for farmers, agricultural businesses, and stakeholders in the industry. This article aims to provide insights into the factors influencing urea prices and how they impact the agricultural sector.
The Role of Urea in Agriculture
Urea is a highly concentrated nitrogen fertilizer that provides plants with the necessary nutrients for healthy growth. It contains approximately 46% nitrogen, making it a cost-effective option for farmers. When applied to the soil, urea breaks down into ammonia, which plants can readily absorb.
Factors Influencing Urea Prices
1. Raw Material Costs
The price of urea is closely linked to the cost of raw materials, primarily natural gas, and coal. These raw materials are essential in the production process, and any fluctuations in their prices directly impact urea production costs.
2. Energy Prices
Energy costs, particularly natural gas prices, significantly affect urea prices. Natural gas is the most common feedstock used in urea production, and variations in energy prices can influence the overall cost of manufacturing urea.
3. Global Demand and Supply
The balance between global demand and supply of urea is a crucial determinant of its price. When demand surpasses supply, urea prices tend to rise, and vice versa. Factors such as population growth, changing dietary patterns, and weather conditions influence the demand for urea.
4. Currency Exchange Rates
Since urea is traded globally, fluctuations in currency exchange rates can impact its price. A weaker domestic currency can make urea exports more competitive, potentially leading to higher prices for domestic buyers.
5. Government Policies
Government policies related to agriculture, subsidies, import-export regulations, and environmental regulations can affect urea prices. Changes in these policies can create price volatility in the market.
Impact of Urea Prices on Agriculture
1. Farm Economics
Urea prices directly impact farmers' input costs, as it is one of the primary fertilizers used in agriculture. When urea prices rise, farmers may face higher production costs, reducing their profitability. Conversely, lower urea prices can benefit farmers by reducing their expenses.
2. Crop Yield
Urea plays a vital role in increasing crop yield by providing nitrogen, an essential nutrient for plant growth. When urea prices are high, farmers might reduce their fertilizer application, leading to potential yield losses. Conversely, affordable urea prices can encourage optimal fertilization practices, resulting in improved crop productivity.
3. Global Food Security
Fluctuations in urea prices can have a significant impact on global food security. As urea is widely used in agriculture worldwide, price volatility can affect the affordability and availability of fertilizers. Stable and affordable urea prices are crucial for ensuring a sustainable and secure food supply.
Conclusion
Understanding the factors influencing urea prices is essential for all stakeholders in the agricultural sector. Raw material costs, energy prices, global demand and supply, currency exchange rates, and government policies all contribute to urea price fluctuations. These price changes directly affect farmers' input costs, crop yield, and global food security. By keeping a close eye on urea prices and their impact, agricultural businesses and farmers can make informed decisions to optimize productivity and maintain a sustainable farming ecosystem.