Fertilizers, Chemicals
May 14, 2025
Platts proposes to launch SE Asia urea assessments; change methodology for existing SE Asia urea assessments July 3
Platts, part of S&P Global Commodity Insights, proposes to launch a series of urea assessments for Southeast Asia effective July 3, 2025.
The proposed weekly single-number assessments aim to enhance the granularity of urea pricing in the region and complement Platts' existing assessments.
The proposed assessments would be as follows:
Granular urea Southeast Asia CFR -- CFR Vietnam, CFR Thailand, and CFR Philippines;
Granular urea Southeast Asia FOB -- FOB Indonesia, FOB Brunei;
Prilled urea Southeast Asia FOB -- FOB Indonesia and FOB Vietnam.
Detailed specifications for the assessments would be as follows:
| Assessment name | CFR Vietnam Granular urea | CFR Thailand Granular urea | CFR Philippines Granular urea |
| Quality | Granular | Granular | Granular |
| Nitrogen | 46% Nitrogen | 46% Nitrogen | 46% Nitrogen |
| Quantity | 6,000-8,000 mt | 6,000-8,000 mt | 6,000-8,000 mt |
| Location | CFR Vietnam, basis Ho Chi Minh port | CFR Thailand, basis Ko Si Chang Port | CFR Philippines, basis Port Bataan |
| Delivery | 4-5 weeks forward from the date of publication | 4-5 weeks forward from the date of publication | 4-5 weeks forward from the date of publication |
| Frequency | Weekly, every Thursday, 16:30 Penang time stamp | Weekly, every Thursday, 16:30 Penang time stamp | Weekly, every Thursday, 16:30 Penang time stamp |
| Unit of assessment | $/mt | $/mt | $/mt |
| Assessment name | FOB Indonesia Granular urea | FOB Brunei Granular urea |
| Quality | Granular | Granular |
| Nitrogen | 46% Nitrogen | 46% Nitrogen |
| Quantity | 5,000-15,000 mt (1-3 lots in a lot size of 5,000 mt ) | 6,000-12,000 mt (1-2 lots in a lot size of 6,000 mt) |
| Location | FOB Indonesia, basis Bontang port | FOB Brunei, basis Muara Port |
| Loading | 3-4 weeks forward from the date of publication | 3-4 weeks forward from the date of publication |
| Frequency | Weekly, every Thursday, 16:30 Penang time stamp | Weekly, every Thursday, 16:30 Penang time stamp |
| Unit of assessment | $/mt | $/mt |
| Assessment name | FOB Indonesia Prilled urea | FOB Vietnam Prilled urea |
| Quality | Prilled | Prilled |
| Nitrogen | 46% Nitrogen | 46% Nitrogen |
| Quantity | 5,000-15,000 mt (1-3 lots in a lot size of 5,000 mt) | 5,000-6,000 mt (1 lot) |
| Location | FOB Indonesia, basis Port Lhokseumawe | FOB Vietnam, basis Ho Chi Minh Port |
| Loading | 3-4 weeks forward from the date of publication | 2-4 weeks forward from the date of publication |
| Frequency | Weekly, every Thursday, 16:30 Penang time stamp | Weekly, every Thursday, 16:30 Penang time stamp |
| Unit of assessment | $/mt | $/mt |
Change in specifications for existing weekly urea assessments
In conjunction with the new assessments, Platts would also revise the methodology for its existing CFR SE Asia granular urea (FGUAC04), FOB SE Asia granular (FGUAA04), and FOB SE Asia prilled urea (FPUAA04) weekly range assessments, also effective July 3, 2025.
The ranges for these assessments will now be derived from the newly introduced granular and prilled urea assessments stated above, rather than being assessed independently. The specifications for these existing assessments would also be adjusted to align with the above proposed assessments.
For instance, if FOB Indonesia prilled urea is assessed at $390/mt and FOB Vietnam at $400/mt, the FOB SE Asia prilled urea weekly range will be reported as $390-$400/mt. This approach will similarly apply to the CFR SE Asia and FOB SE Asia granular urea assessment.
All above assessments would appear in the Nitrogen market report, Platts Connect, S&P connect and the Platts price database.
Please submit any feedback, comments, or questions about this proposal to fertilizer@spglobal.com and pricegroup@spglobal.com by May 27, 2025.
For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.
Platts will consider all comments received and will make comments not marked as confidential available upon request.