Urea futures rose to as high as $684 per tonne, the highest since October 2022, and are more than 70% higher this year, as the war in the Middle East severely disrupts global fertilizer markets. The conflict has driven a sharp spike in natural gas prices, a key input for urea production, and restricted flows through the Strait of Hormuz, which handles about a third of global fertilizer shipments. Gulf Cooperation Council members, including Saudi Arabia, Qatar, and Oman, supply roughly a quarter of global urea exports, adding to concerns. Also, production in India and Bangladesh has been hit by plant shutdowns and maintenance amid limited LNG supplies. At the same time, China has tightened export restrictions to secure domestic supply, while Russia has curtailed shipments of key nutrients. Demand is also surging ahead of the spring planting season, particularly in large agricultural economies, forcing countries to scramble for imports and pushing prices higher.
Urea rose to 695 USD/T on March 26, 2026, up 2.58% from the previous day. Over the past month, Urea's price has risen 49.30%, and is up 83.38% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Urea reached an all time high of 1050 in April of 2022. This page includes a chart with historical data for Urea. Urea - data, forecasts, historical chart - was last updated on March 27 of 2026.
Urea rose to 695 USD/T on March 26, 2026, up 2.58% from the previous day. Over the past month, Urea's price has risen 49.30%, and is up 83.38% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Urea is expected to trade at 678.85 USD/T by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 779.87 in 12 months time.