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NetherlandsQ1 2025:
Ammonia prices corrected downward in Q1 2025, with FOB Lisas falling from 489 USD/MT in January to 423 USD/MT by March 2025. The decline was primarily driven by softer global demand following the post-harvest lull and increased supply resulting from the resumption of production at key North African and Middle Eastern facilities.
Analysts observed a notable slowdown in purchasing inquiries from Southeast Asia, contributing further to the bearish sentiment. Additionally, market participants highlighted declining freight costs, which improved delivery timelines and intensified price competition among suppliers. This combination of factors led to a more balanced market, with buyers benefiting from improved availability and lower costs, while producers faced pressure to maintain market share amid subdued demand and heightened competition.
Q4 2024:
Ammonia prices remained firm at elevated levels in Q4 2024. FOB Middle East prices were stable between USD 421/MT in October and USD 410/MT in December 2024. Steady agricultural demand and constrained supply due to Arabian Gulf shipping delays buoyed the market. Congestion at key export ports further restricted availability, prompting buyers to secure long-term contracts for Q1 2025 shipments as a hedge against uncertainty. Analysts noted ongoing buyer caution, reflecting concerns over future supply reliability and price volatility. Persistent demand from major importers helped maintain spot prices, reinforcing a balanced yet tense market environment throughout the final quarter of 2024.
Q3 2024:
Q3 marked a sharp recovery in ammonia markets, with notable price increases across key regions. In Trinidad and Tobago, FOB Lisas prices rose from USD 392/MT in July to USD 477/MT by September 2024, a 22% jump, while FOB Saudi prices climbed from USD 340/MT to USD 366/MT. This rebound was primarily driven by seasonal demand ahead of the Rabi crop cycle, alongside planned turnarounds at Gulf production facilities. Market participants observed tighter supplies due to operational outages and reported increased procurement activity from Europe and Brazil, which further supported upward momentum in FOB prices, reflecting renewed confidence and stronger market fundamentals. The combination of supply constraints and robust demand from agriculture and industry underpinned the price rally.
Q2 2024:
Ammonia prices experienced a persistent softening trend throughout Q2, with FOB Middle East quotes dropping from USD 351/MT in April to USD 286/MT by June. The decline was driven by sustained low demand, notably in Asia-Pacific, where procurement activity remained subdued, and by high inventory levels across global markets. Middle Eastern suppliers intensified spot selling, further pressuring prices. Lower feedstock costs reduced production expenses, prompting producers to compete more aggressively and reinforcing the downward price momentum. These factors collectively heightened market volatility and dampened price recovery prospects in the near term.
Q1 2024:
Ammonia prices experienced a marked decline throughout Q1 2024, as FOB Lisas dropped from USD 535/MT in January to USD 424/MT in March, and FOB Saudi decreased from USD 481/MT to USD 306/MT. The downward movement was driven by reduced seasonal demand, particularly in Europe where a mild winter curbed industrial ammonia usage. Increased export availability from North Africa, alongside rising inventories in the Middle East, further pressured the market. Weak spot demand from South Asian fertilizer producers compounded the trend, intensifying competition among suppliers and reinforcing the overall price weakness across global markets.
Q1 2025:
In Q1 2025, Ammonia CFR JNPT from Qatar declined slightly to USD 390/MT, a minimal –0.16% drop from Q4 2024. This modest correction stemmed from balanced supply and steady imports, as buyers kept sufficient inventories and adopted cautious procurement. Stable demand from fertilizer and chemical sectors helped maintain price levels, while efficient logistics and global market stability further supported subdued market activity. Consequently, the Indian ammonia market experienced equilibrium rather than volatility, with supply, demand, and inventory management all contributing to the overall stability. This reflects a period of calm, with no dramatic price shifts, as the market remained well-balanced throughout the first quarter.
Q4 2024:
In Q4 2024, CFR JNPT ammonia prices from Qatar rose to USD 465 /MT, a modest 0.905% increase from Q3, signalling continued price stability in Asia. Supply constraints, including intermittent plant outages and logistical hurdles, as well as fluctuating demand from fertilizer producers, shaped market trends. However, the limited price movement highlights balanced market dynamics, with robust Indian demand and proactive inventory management helping to cushion the impact of global supply disruptions. The quarter’s overall stability underscores the resilience of ammonia trade routes and the importance of India’s role in global chemical and fertilizer markets.
Q3 2024:
In Q3 2024, Ammonia prices at India’s Paradip port (CFR from Saudi Arabia) were rose sharply from Q2 levels. The sharp rise highlighted market volatility, contrasting with broader volatility from Saudi supply disruptions at Ma’aden and rising feedstock costs. The Saudi-to-India route stayed resilient and well-supplied, with significant price shifts despite external pressures and strong pre-planting season demand. Efficient logistics, steady vessel schedules, and robust Indian fertilizer sector demand kept deliveries smooth. Proactive inventory management by importers further stabilized prices towards the end of the quarter, ensuring tight price ranges amid global uncertainties and supporting continued market balance throughout the period.
Q2 2024:
The Q2 2024 CFR JNPT Ammonia price from Qatar was USD 365/MT, showing a negligible
decrease of around 1% from Q1 2024. This indicates a period of price stability despite broader regional volatility. Supply-chain disruptions, fluctuating feedstock costs, and mixed demand from downstream sectors such as fertilizers, chemicals, and refrigeration contributed to slight price adjustments, but the market remained balanced, reflecting neither significant upward nor downward pressure compared to earlier quarters. The cautious trading environment was further influenced by global economic uncertainties and India’s steady industrial demand for ammonia, which helped offset potential price swings. Overall, limited price movement and stable supply-demand dynamics characterized the period, with market participants closely monitoring both domestic and international developments to anticipate future trends.
Q1 2024:
In Q1 2024, ammonia prices at India’s JNPT port (CFR from Saudi Arabia) rose marginally to USD 431/MT, a mere 0.5% increase from Q4 2023. This slight uptick reflects stable market conditions, with ample Saudi supply meeting steady, cautious Indian demand as agricultural needs grew. The market saw little disruption or volatility, as efficient Saudi production and only minor logistical delays kept prices nearly unchanged. This stability highlights robust supply chain management and the absence of major external shocks, allowing both producers and buyers to operate smoothly. Overall, the market’s resilience reinforced ammonia’s critical role in supporting India’s agricultural and industrial sectors.
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These events underscore the Ammonia market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
This research methodology ensures that PriceWatch delivers accurate, timely, and actionable Ammonia pricing assessments, enabling our clients to stay ahead of market trends and make informed decisions in an ever-changing market.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Ammonia is a colorless gas with a characteristic pungent odor, widely used in various industries. In agriculture, it serves as a key source of nitrogen in fertilizers. It is also essential in chemical manufacturing (such as nitric acid, plastics, and explosives), refrigeration, water treatment, and cleaning products. Ammonia is highly soluble in water, forming ammonium hydroxide, and is valued for its reactivity and efficiency as a nitrogen source. Although it can be hazardous in high concentrations, it is a fundamental industrial chemical with broad applications.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Test Parameter | Standard (Typical) |
| Appearance (Color) | Colorless |
| Appearance (Form) | Liquid (aqueous) |
| Odor | Pungent, characteristic |
| Purity (Assay, min.) | 99.5% (anhydrous) / 25–30% (aqueous) |
| Water (max.) | 0.2% (anhydrous) |
| Oil Content (max.) | 5 mg/kg (anhydrous) |
| Iron (Fe) (max.) | 0.5 mg/kg (anhydrous) |
| Heavy Metals (Pb) (max.) | 0.5 mg/kg (anhydrous) |
| Non-volatile Residue (max.) | 0.005% (aqueous, 28%) |
Applications
Ammonia (NH₃) is a highly versatile chemical with widespread uses. It’s essential in agriculture as a primary ingredient in nitrogen fertilizers, boosting plant growth and crop yields. Industrially, ammonia serves as an effective refrigerant for large-scale cooling systems and is used in wastewater treatment to regulate pH. It also plays roles in cleaning products, chemical manufacturing (producing plastics, explosives, and pharmaceuticals), oil and gas refining, metal treating, pulp and paper production, rubber stabilization, and as an antimicrobial agent in food processing.
Ammonia prices in the global market are primarily influenced by natural gas costs, as most production relies on gas for hydrogen synthesis. Supply chain disruptions, geopolitical events, and export restrictions from major producers further impact pricing by tightening availability. Agricultural demand for fertilizers remains a key driver, while industrial uses provide steady consumption. Logistical challenges, such as port congestion and shipping delays, add to price volatility. Additionally, weather events, infrastructure constraints, and emerging green ammonia initiatives shape both short- and long-term price trends.
Ammonia availability directly influences pricing trends: when supply is tight due to production outages, logistical disruptions, or export restrictions, prices typically rise as demand outstrips available stocks. Conversely, improved availability from stable production or sufficient imports can ease price pressures, especially if demand is steady or subdued. Therefore, ammonia prices are highly sensitive to changes in supply chain efficiency and regional inventory levels.
Ammonia prices globally are mainly driven by natural gas costs, as most production uses gas for hydrogen. Supply chain disruptions, geopolitical tensions (like export restrictions), and logistics issues also cause volatility. Demand from agriculture (for fertilizers) and industry keeps prices active, while production outages and infrastructure differences between regions add pressure. Emerging green ammonia and climate policies, plus macroeconomic factors like currency and inflation, further shape long- and short-term pricing trends.
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