Soft commodities · UREA

Urea price

Urea currently trades at US$502.50 per tonne (≈ €427.36 · £374.51) — 28.57% below the 12-month high. Over the past 12 months it has gained 9.54%, with the annual range running from US$350.00 to US$703.50. 24-hour movement is minimal (±0.00%).

US$502.50 / tonne
≈ €427.36 ≈ £374.51 Unchanged 24h 43% within the 52-week range
FX Editorial Team · Data updated: · Editorially verified
Urea (UREA) price today US$502.50 / tonne, ↑ +0.00% (24h)

Urea chart

Interactive chart and 30-day overview

7 days
▼ −12.91%
−US$74.50
30 days
▼ −27.33%
−US$189.00
1 year
▲ +9.54%
+US$43.75
52-week range
US$350.00 43% US$703.50
Urea (UREA) 30-day price chart — USD, EUR, GBP

The Urea chart shows how the urea price has moved over time. The interactive view lets you switch the timeframe (from 7 days up to MAX), the currency (USD / EUR / GBP) and overlay moving averages. Click any two points to measure the percentage change between those dates.

How is urea priced?

Urea is priced per metric tonne (1 t = 1,000 kg) — the standard unit for industrial and bulk commodities on the London Metal Exchange (LME), CME and major European exchanges. Wholesale shipments move in containers or bulk vessels, typically in 25-tonne or 100-tonne lots.

At US$502.50 per tonne, one kilogram is worth US$0.5025. End-user pricing for processed goods includes refining margins, transport and tariffs on top of the wholesale benchmark.

What drives the price of urea?

The main driver of the urea price is the natural gas price. Gas is both the feedstock and the energy source for ammonia synthesis under the Haber–Bosch process, and accounts for about 80% of total urea production costs. Middle Eastern producers, including Saudi Arabia’s SABIC, Qatar’s Qafco and UAE-based Fertiglobe, have a durable cost advantage because of cheap domestic gas fixed for industrial use. US plants, including the CF Industries Donaldsonville complex, Nutrien and OCI Global Wever, produce against gas linked to Henry Hub pricing. European plants, including BASF, Yara and OCI Global capacity at Geleen, must deal with higher TTF gas prices. That places them in the upper segment of the global cost curve; a persistently wide Henry Hub–TTF spread can lead to temporary shutdowns in Europe.

The second structural factor is Chinese export policy. China produces about 60 Mt of the global annual urea output of roughly 180 million tonnes, and treats domestic agricultural security as a priority. During spring and summer planting peaks, typically for rice and maize, the customs authority and the commerce ministry may impose a urea export quota or informal export restriction. Such measures can move CFR India and FOB Middle East prices higher by as much as USD 50–100 per tonne. The opening and closing of the “Chinese tap” is one of the largest sources of volatility in the global urea market. Argus Nitrogen weekly FOB China assessments react sharply to customs announcements.

The third key factor is import demand, dominated by three markets. India is the world’s largest urea importer, with annual volumes of about 5–10 million tonnes. Periodic international tenders by state-backed IPL (Indian Potash Limited), RCF and NFL, often via FCI and STC, directly affect FOB Middle East and FOB Russia pricing. Brazil imports about 7 Mt a year, mainly to supply soyabean and maize regions in Mato Grosso and Paraná; port buying helps shape CFR Brazil assessments. In Europe, sanctions and tariff measures affecting Russian imports, combined with elevated TTF gas prices, have raised the cost of EU supply. The EU agricultural sector relies more heavily on Middle Eastern and North African shipments, including Egyptian and Algerian product.

investingTitle

How to invest in the urea industry

A European retail investor does not have access to a direct pure-play urea CFD. Neither XTB nor eToro offers a urea futures contract, as the CME UFV contract has limited retail liquidity and the physical market is priced through weekly Argus and ICIS FOB assessments. Urea exposure can be built through nitrogen fertiliser producer shares: CF Industries (CF) is one of the world’s largest urea and UAN producers and is listed on the NYSE; Nutrien (NTR) is an integrated nitrogen and potash fertiliser group; Norway’s Yara International (YAR.OL) is a major player in global nitrogen; Dutch-Egyptian OCI Global (OCI.AS) has significant urea and methanol plants; and Mosaic (MOS) offers broader phosphate and potash exposure. Outside single stocks, the VanEck Agribusiness ETF (MOO) provides diversified exposure to the fertiliser sector. International shares may be held in tax-efficient accounts, such as a UK ISA or similar EU wrappers, where available.

30-day price history

Chart and daily closing prices

Urea (UREA) 30-day price chart — USD, EUR, GBP

Daily close

30 trading days

Date Price (USD) Price (EUR) Price (GBP) Daily change
23 May 2026 US$502.50 €427.36 £374.51 ▼ −7.37%
22 May 2026 US$542.50 €461.38 £404.33 ▼ −3.13%
21 May 2026 US$560.00 €476.26 £417.37 ▼ −1.32%
20 May 2026 US$567.50 €482.64 £422.96 ▼ −1.30%
19 May 2026 US$575.00 €489.02 £428.55 ▼ −0.35%
16 May 2026 US$577.00 €490.72 £430.04 ▲ +0.79%
15 May 2026 US$572.50 €486.89 £426.68 ▲ +1.78%
14 May 2026 US$562.50 €478.39 £419.23 ▲ +1.81%
13 May 2026 US$552.50 €469.88 £411.78 ▲ +0.91%
11 May 2026 US$547.50 €465.63 £408.05 ▼ −11.16%
10 May 2026 US$616.25 €524.10 £459.29 ▲ +6.71%
6 May 2026 US$577.50 €491.15 £430.41 ▼ −1.28%
2 May 2026 US$585.00 €497.52 £436.00 ▼ −14.23%
1 May 2026 US$682.05 €580.06 £508.33 ▼ −0.39%
30 Apr 2026 US$684.75 €582.36 £510.34 ▼ −0.44%
29 Apr 2026 US$687.75 €584.91 £512.58 ▼ −0.40%
28 Apr 2026 US$690.50 €587.25 £514.63 ▼ −0.25%
27 Apr 2026 US$692.25 €588.74 £515.93 ▼ −0.25%
25 Apr 2026 US$694.00 €590.23 £517.24 ▲ +0.36%
22 Apr 2026 US$691.50 €588.10 £515.37 ▼ −0.14%
21 Apr 2026 US$692.50 €588.95 £516.12 ▼ −1.39%
20 Apr 2026 US$702.25 €597.24 £523.39 —

Urea FAQ

What is urea, and why is it the world’s most important nitrogen fertiliser? +
Urea (CO(NH₂)₂) is a white crystalline organic compound synthesised at industrial scale from ammonia and carbon dioxide. The ammonia is made from natural gas or coal feedstock using the Haber–Bosch process. In the market it is sold as solid granules or prills. It contains 46% nitrogen by weight, the highest nitrogen concentration among solid fertilisers. That makes it one of the cheapest ways to transport and apply nitrogen per tonne. With global annual production of roughly 180 million tonnes, it is the most produced and most widely used single fertiliser product, and a core nutrient source for cereals, maize, rice and other field crops.
How is urea made, and why is it so dependent on natural gas prices? +
Urea production has two main stages. First, the Haber–Bosch process synthesises ammonia (NH₃) from nitrogen (N₂ from air) and hydrogen, usually from steam reforming of methane in natural gas and, to a lesser extent, from coal gasification. This takes place at about 150–300 bar and 400–500 °C over an iron-based catalyst. The ammonia is then reacted with carbon dioxide, a reforming by-product, at high pressure and 180–200 °C to produce a urea solution, which is dried and then granulated or prilled. Natural gas feedstock accounts for about 80% of total production costs, so the spread between US Henry Hub and European TTF gas prices directly separates regional producer margins.
How can the price of 1 kg or 100 kg of urea be calculated from an FOB quotation? +
To calculate a 1 kg price from a dollar-per-tonne quotation, divide the USD/tonne price by 1,000. The price of 100 kg is one hundred times the 1 kg price. This is a wholesale FOB reference price, based on instruments such as CME Urea Granular FOB US Gulf or Argus FOB Middle East assessments. Bagged or bulk urea bought by a European farm buyer is usually materially more expensive after sea freight, port costs, inland logistics, dealer margins and local taxes. Agricultural wholesale pricing is also often shown on an ammonia or nitrogen-content basis, such as USD / kg N.
What is the CME Urea (UFV) futures contract, and who uses it? +
The CME Group Urea (Granular) FOB US Gulf futures contract is a financially settled contract listed on the Chicago Mercantile Exchange under the ticker UFV. One contract generally represents 100 short tons of physical delivery equivalent, with pricing in USD / short ton on an FOB US Gulf basis. Main users include large grain cooperatives and private farms in the US, international urea trading houses such as Trammo, Helm and Keytrade, and treasury teams hedging physical positions at CF Industries, Nutrien and OCI. Retail CFD brokers such as XTB and eToro do not mirror this contract because it has limited retail liquidity.
Which countries are the largest urea producers and exporters? +
Global urea production is about 180 million tonnes a year. By far the largest producer is China, at about 60 Mt/year, mostly from coal feedstock and mainly for domestic consumption. It is followed by India, at about 25 Mt/year, also mainly for domestic use; Russia, at about 9 Mt/year, with significant exports through Baltic and Black Sea ports; Saudi Arabia, at about 9 Mt/year through SABIC plants; and the United States, at about 6 Mt/year, led by CF Industries Donaldsonville, Nutrien and OCI. Egypt, Algeria, Qatar and the United Arab Emirates are also significant exporters. Because China and India prioritise domestic supply, the largest exporters are mainly Middle Eastern producers, including Saudi Arabia, Qatar, the UAE and Oman, as well as Russia.
Why do Chinese export quotas matter for the global urea market? +
China’s urea output of about 60 Mt/year represents roughly one-third of global supply, while domestic agriculture, especially rice, maize and wheat production, is treated as a strategic priority. During spring and summer planting peaks, China’s customs authority, GACC, and the Ministry of Commerce, MOFCOM, periodically impose urea export quotas or informal customs slowdowns to avoid domestic shortages. The opening and closing of the “Chinese tap” is one of the largest short-term sources of volatility in the global urea market. An export restriction announcement can lift FOB Middle East and CFR India prices by USD 50–100 per tonne within a few weeks, while domestic Chinese DCE quotations usually move in the opposite direction.
How much urea is applied per hectare in practice? +
Application rates depend on the crop, soil conditions and nutrient-management strategy. For cereals, such as wheat and barley, typical urea application is 100–200 kg/ha, often in split applications, such as a base dressing in autumn and a spring top dressing, sometimes with an additional late-spring quality treatment. For maize, application may range from 150–300 kg/ha depending on target yield. Because urea contains 46% nitrogen, 1 tonne of urea supplies about 460 kg of pure nitrogen. An application of 200 kg/ha of urea therefore equals about 92 kg/ha of actual nitrogen. Stabilised urea formulations, including urease-inhibitor-treated or slow-release coated products, are increasingly used to improve nitrogen-use efficiency (NUE).
How are gains on urea-industry shares taxed? +
Tax treatment varies by jurisdiction; consult a local tax adviser.

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Data sources: CME Group — Urea (Granular) FOB US Gulf Futures (UFV) · Argus Media — Nitrogen and Urea Market Reports · ICIS — Fertilizers and Urea Market Intelligence · International Fertilizer Association (IFA) — Statistics