SABIC’s April local urea price declines to SAR 1,211 a ton

Saudi Basic Industries Corp. (SABIC), nominated its April urea price at SAR 1,211 a ton ($323) in the local Saudi market, SAR 149 less than March price, Industry sources said.

The price of Diammonium phosphate (DAP) fertilizer in April stood at SAR 2130 a ton ($568) for the 6th consecutive month.

SABIC, the Middle East’s largest company by market capitalization, produces urea and DAP through its subsidiaries including Saudi Arabia Fertilizers Co. (SAFCO),  Ibn al-Baytar National Chemical Fertilizer Company- a joint venture between SABIC and SAFCO- as well as al-Bayroni Fertilizer Company, a joint venture with Taiwan Fertilizer.

SABIC sells its fertilizers in Saudi Arabia at the international market price.