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Akbar Novruz

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Rising urea prices on international markets have helped offset the impact of lower export volumes from Azerbaijan, limiting the decline in export revenues despite a sharp reduction in shipments during the first four months of 2026, AzerNEWS reports.

According to the latest trade data, Azerbaijan exported 92,070 tons of nitrogen fertilizers (urea) between January and April, generating $34.59 million in revenue.

In the corresponding period of 2025, the country exported 215,670 tons of urea worth $63.53 million. As a result, export volumes fell by 57.3% year-on-year, while export revenues declined by a comparatively smaller 45.6%.

The difference was largely driven by higher international prices. Calculations show that the average export price of Azerbaijani urea reached $375.66 per ton during the reporting period, compared to $294.56 per ton a year earlier. This represents a 27.5% increase in the average export price.

Market analysts attribute the price surge to geopolitical tensions in the Middle East, particularly the escalation involving the United States, Israel, and Iran, as well as growing logistical risks in the strategically important Strait of Hormuz. Concerns over transportation disruptions and export risks from one of the world's key fertilizer-producing regions have pushed global nitrogen fertilizer prices higher.

According to market estimates, international urea prices rose by 50-60% following the outbreak of hostilities, reflecting concerns about supply disruptions from the Middle East, which accounts for approximately 35-40% of global urea exports.

Ukraine remained the largest buyer of Azerbaijani urea during the first four months of the year. Exports to Ukraine totaled 76,770 tons, accounting for approximately 83% of Azerbaijan's total urea exports.

Other major destinations included Romania with 10,570 tons, Türkiye with 1,690 tons, Israel with 1,500 tons, and Greece with 1,020 tons.