Market Morsel
In current months, EP3 has actually composed a lot of posts about how Australia has actually been importing record levels of urea. Among the remarks we have actually made is that whilst there are record levels of imports, they may not all remain in the best location.
As constantly, as experts, we like to dive even more into subjects to see if we can get a clearer image of the marketplace.
So, let’s take a look at where the fertiliser has actually been entering the nation.
There are some cautions with this information, because the information is based upon the worth of fertiliser imports, not the volume, and not fine-tuned to fertiliser type. It exists to provide a pattern. The worth of imports has actually been strong up until now this year.
The very first chart listed below programs the typical yearly structure of fertiliser in each state, in addition to the 2023 structure. We can see that WA has actually seen a big boost in the worth of fertiliser being imported in contrast to the other states.
The 2nd chart shows the yearly imports, and we can see the sharp boost in imports into Western Australia relative to the other states.
This follows anecdotal details that WA has actually had a hard time less with access to fertilisers than the other states.