Latest news with #urea
Zawya
10 hours ago
- Business
- Zawya
Nigeria's Dangote aims to end Africa's fertiliser imports
Africa will be self-sufficient in fertiliser within 40 months, Nigerian billionaire Aliko Dangote said on Friday, on the basis of a planned expansion of his $2.5 billion plant on the outskirts of Lagos. Africa currently imports over 6 million metric tons of fertiliser annually as it struggles to produce enough food in often challenging growing conditions. The benefits of increasing domestic production would include reduced foreign exchange expenditure, which has been a major economic burden in Nigeria because of the weakness of the local currency. "In the next 40 months, Africa will not import fertiliser from anywhere. We have a very aggressive trajectory right now. We want to put Dangote to be the highest producer of urea, bigger and higher than Qatar - give me 40 months," Dangote said at the annual Afreximbank meeting in Abuja. Dangote runs Africa's largest granulated urea complex, which has annual capacity of 3 million tons, 37% of which it exports to the United States. It will need to double current output to achieve his ambition. Dangote has said he is not worried about the impact of Trump tariffs. Analysts say the market outlook for fertiliser is bullish, but there are also challenges and the kind of expansion Dangote seeks requires infrastructure to be built. "Any new fertiliser plant or expansion project faces cost overrun risks to the producer," Seth Goldstein, senior equity analyst at Morningstar Research, said. Mikolah Judson, an analyst at global risk consultancy, Control Risk, cited the need for "transport infrastructure and port capacity," saying "bottlenecks routinely delay various import and export projects in Nigeria". Dangote has a track record for delivering big projects. He also owns the Dangote Petroleum Refinery, Africa's largest, although its launch was repeatedly delayed and it exceeded its initial budget. He has said he intends to list the 650,000 barrels-per-day refinery next year and on Friday he also confirmed plans to list his fertiliser plant on the local stock exchange this year.
Bloomberg
2 days ago
- Business
- Bloomberg
China to Relax Urea Export Ban, Easing Global Price Pressure
China is loosening its ban on urea exports, a move likely to ease surging international prices that have been buoyed by tension in the Middle East. Limits on exports of the fertilizer will be loosened from this month, according to people familiar with matter. However, Chinese companies will still be subject to quotas and, in some instances, minimum prices for shipments, said the people, who asked not to be named as they're not authorized to talk to the media. Exports to India will still be restricted, they said.
Bloomberg
4 days ago
- Business
- Bloomberg
Global Urea Prices Surge as Some Mideast Producers Halt Output
Global prices of key fertilizer ingredient urea have surged alongside escalating violence in the Middle East, which threatens to choke supplies of the crop nutrient from a significant producing and exporting region. Nearly half of world's urea exports are sourced from manufacturing facilities on the Persian Gulf, according to Bloomberg Intelligence, with recent strikes putting those supplies at risk. Egypt and Iran have already curtailed production, which alone were responsible for almost 20% of global urea trade last year, according to Chris Lawson, head of fertilizers at consulting firm CRU Group.
The Guardian
08-06-2025
- General
- The Guardian
Queensland fire crews work to rescue man in his 80s stuck up to his neck in silo of fertiliser
Specialist fire crews were working on Sunday to rescue a man in his 80s trapped in a silo filled with urea in regional Queensland. A Queensland fire department spokesperson said a family member of the man reported just after 1.30pm he had fallen into a silo on the property near Eurombah, north of Roma. The silo contained urea, which is used for fertiliser. Queensland fire and rescue crews specialising in confined space and vertical rescue had secured the man in a harness while the urea was slowly released out of the bottom of the silo. As of 4pm, the urea had been lowered to the man's waist level, with rescue crew using buckets to empty it out. A rescue helicopter was on the scene to assist, alongside the fire crews, Queensland ambulance service and Queensland police.
Yahoo
08-06-2025
- Yahoo
Elderly man trapped up to neck in silo
A man has become trapped after falling into a silo filled with urea fertiliser in regional Queensland. Emergency services were called to a property on Roma Taroom Rd in Eurombah, between the Shire of Banana and Western Downs in regional Queensland, about 1.250pm Sunday after reports a man fell into a silo. A Queensland Fire Department (QFD) spokesman told NewsWire a family member raised the alarm after the man became trapped up to his neck after falling into the silo. The silo, which was on private property, is believed to be filled with is a highly concentrated nitrogen fertiliser, commonly used by farmers. A Queensland Ambulance spokesman told NewsWire crews were on the scene to rescue the man, believed to be in his 80s. Three rescue crews are on the scene, who have been specially trained in working in confined spaces. The spokesman told NewsWire the man has been strapped into a harness, though the rescue operation is 'still in action'. More to come
