The Middle East and Africa Are Expected to Supply Import Growth
The US and India together account for approximately one-third of global urea trade, while countries in Asia Latin America and Europe are expected to provide most of the future growth in import demand.
China has periodically been the world's largest urea exporter, although its annual volumes fluctuate with changes in government export policies. Currently, urea exports face a significant tariff except during a four-month window starting in July, during which the tariff is calculated by a formula tied to the export price of urea. New capacity being built in China could be used to phase out some older and less efficient urea plants.