Platts proposes to launch daily assessments for FCA France, FOB Egypt, FOB Algeria Granular Urea; amend weekly assessment methodology

Platts, part of S&P Global Commodity Insights, proposes to launch daily assessments for FCA France Granular Urea, FOB Egypt Granular Urea and FOB Algeria Granular Urea, effective Jan. 2, 2025.

These daily assessments, which would be timestamped to 16:30 London time, and published Monday-Friday, would better capture price developments within the fertilizer market throughout the week.

The proposed specifications for these daily assessments, all of which cover 46% Nitrogen granular urea in bulk, are as follows:

- FCA France Granular Urea basis La Pallice, min 5,000 mt

- FOB Egypt Granular Urea basis Damietta/Abu Qir, 1,000-15,000 mt

- FOB Algeria Granular Urea basis Arzew, min 6,000 mt

The daily assessments would be published as a single "close" value; all other specifications for the new daily assessments would align with those for Platts existing Urea coverage .

Daily, weekly coverage alignment

Under this proposal, Platts would continue to publish its existing weekly FCA France, FOB Egypt and FOB Algeria Granular Urea assessments, but would define and standardize the relationship between the daily and weekly assessments.

Currently, the weekly assessment is published as a range with a "low" and a "high" value. Platts proposes that, as of January 6 2025, these high and low values would 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.

Platts would also launch introduce a third, "close", value for the weekly assessment, reflecting market value at 1630 London time on Thursdays, mirroring that day's daily assessment.

Platts seeks market feedback on all elements of this proposal, and any other parameters of its urea assessments not covered above.

Please send any feedback, questions and comments by Sept. 27 to Fertilizer@spglobal.com, and PriceGroup@spglobal.com.

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.