Platts corrects the Egyptian urea Incoterm and sales quantity reported in April 23 Fertecon Daily

Platts, part of S&P Global Commodity Insights, has corrected the Incoterm and sales information relating to the Egyptian granular urea market in the Nitrogen Commentary in the April 23 2024 edition of Platts Fertecon Daily.

The correct Incoterm relating to sales, bids and offers within the Egyptian granular urea market should have been FOB, and not CFR. Egyptian suppliers were believed to have sold a total of 90,000 mt urea last week, rather than a single sale of this amount.

The correct commentary is as follows:

In Egypt, suppliers were firm on offers of at least $300/mt FOB following sales heard to have totaled 90,000 mt which concluded last week, with bids now at $290-$295/mt CFR. A second market source said Egypt based producers were now comfortable after the large-scale deal.

The error has not impacted the Platts pricing database.

Fertecon last assessed the Egyptian granular urea market at $290-295/mt FOB, as of April 18.

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