Investor Relations

Operational prospects 2014

Global nitrogen demand remained strong during 2014. A substantial proportion of nitrogen capacity in Ukraine and other key export locations curtailed, Chinese urea exports reached a record 14 million tons in 2014.
Operational prospects 2014

Industry developments

Global nitrogen demand remained strong during 2014. A substantial proportion of nitrogen capacity in Ukraine and other key export locations curtailed, Chinese urea exports reached a record 14 million tons in 2014. Planned capacity additions outside China over the next years are unlikely to fully displace Chinese urea exports. Given the significant Chinese curtailments in place today, current export prices for prilled urea fob China (USD 285-290 per ton) are believed to be close to break-even for swing producers. 

Going forward, the floor for global commodity nitrogen prices are therefore likely to be set by the cost of high-quality anthracite coal in China, export tariffs and the RMB-USD exchange rate. However temporary demand-driven price increases may occur. The anthracite coal price has not been negatively affected by the drop in global oil and gas prices, and the Chinese currency has strengthened in parallel with the US dollar.

A weaker Euro and lower gas prices have improved the relative competitiveness of European fertilizer capacity.


Developing the company


With its global downstream presence, differentiated product portfolio and increasing innovation efforts, Yara intends to both promote and create profitable business opportunities from the needed increased emphasis on efficient fertilizer application. Yara aims to achieve this through downstream and upstream growth, technology and competence development.

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