BUZZ-Fertilizers CF, Nutrien, Mosaic rise as urea prices climb on Middle East conflict

Reuters
03/02
BUZZ-Fertilizers CF, Nutrien, Mosaic rise as urea prices climb on Middle East conflict

** U.S. fertilizer stocks jump in early morning trading as urea price climbs amid widening Middle East conflict

** CF Industries CF.N climbs 6.5%, Mosaic MOS.N rises 3.1% and U.S.-listed shares of Nutrien NTR.N up 2.4%

** The companies produce nitrogen-based fertilizers like urea, whose prices have soared as the U.S.-Israeli air war against Iran disrupts shipping through the vital Strait of Hormuz

** Higher urea prices typically support margins for producers

** Commodity price reporting agency Argus Media says urea prices surged as the Middle East conflict threatens to choke supply from a region that accounts for around 35% of global seaborne urea trade

** In the past 12 months, CF is up nearly 25%, NTR gains 43% and MOS rises 11%

(Reporting by Medha Singh)

((Medha.Singh@thomsonreuters.com; +91 80 6210 0592; X, formerly Twitter: @medhasinghs;))

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