Fertilizers, Chemicals, Energy Transition, Renewables
May 30, 2025
Platts to launch daily urea assessments in the Baltic, Black Sea and Middle East regions; refine methodology for existing weekly urea assessments June 27
Platts, part of S&P Global Commodity Insights, will launch seven daily granular and prilled urea FOB assessments for the Baltic Sea, Black Sea (both Russian and non-Russian origin) and the Middle East, effective June 27, 2025.
This decision follows a proposal published on May 13 here.
These daily assessments, which will be published Monday-Friday in $/mt and time-stamped to 16:30 London time in the Platts Fertecon Daily publication, along with Platts Connect and Platts pricing database, will better capture price developments within the fertilizer market throughout the week.
The specifications for these seven daily assessments are as follows:
| Assessment name | Quantity | Basis and location | Timing |
FOB Baltic Sea Granular Urea | 25,000-35,000 mt | Spot. Ust-Luga | Loading one to six weeks forward |
FOB Baltic Sea Prilled Urea | 25,000-35,000 mt | Spot. Ust-Luga | Loading one to six weeks forward |
FOB Black Sea (Russian origin) Granular Urea | 5,000-10,000 mt | Spot. Novorossiysk | Loading one to six weeks forward |
FOB Black Sea (non-Russian origin) Granular Urea | 5,000-10,000 mt | Spot. Batumi | Loading one to six weeks forward |
FOB Black Sea Prilled Urea | 5,000-10,000 mt | Spot. Novorossiysk | Loading one to six weeks forward |
FOB Middle East (excl. USA) Granular Urea | 30,000-45,000 mt | Spot. Mesaieed | Loading one to six weeks forward |
FOB Middle East Prilled Urea | 30,000-45,000 mt | Spot. Mesaieed | Loading one to six weeks forward |
The new daily assessments will be published as a single "close" value reflecting the market value at 16:30 London close each day.
Platts will continue to publish its existing weekly assessments for granular urea: FOB Baltic (FGUBA04) and FOB Middle East excl. USA (FGUMA04). It will also continue publishing its existing weekly assessments for prilled urea: FOB Middle East (FPUMA04), FOB Black Sea (FPUBB04) and FOB Baltic Sea (FPUBA04). It will define and standardize the relationship between these weekly assessments and the new daily assessments listed above.
Currently, the weekly assessments are published as a range with a "low" and a "high" value. As of July 3, 2025, these low and high values will consistently reflect the lowest and highest of the daily assessments published over the course of the seven days up to and including the date of publication (Friday to Thursday).
Also, Platts will launch a third, "close" value for the legacy weekly assessments mentioned above, reflecting market value at 16:30 London time on Thursdays, mirroring that day's daily assessment.
As for the existing weekly assessment of FOB Black Sea Granular Urea (FPUBB04), the current range with a "low" and a "high" value, as of July 3, will reflect the lowest and highest of the daily assessments of FOB Black Sea Granular Urea (Russian origin) and FOB Black Sea Granular Urea (non-Russian origin) over the course of the seven days up to and including the date of publication (Friday to Thursday).
Please send any feedback, questions and comments to fertilizer@spglobal.com and pricegroup@spglobal.com .
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