# Ammonia: Trading

The Tampa contract that sets the world's ammonia price

Source page: https://www.materialinsights.org/chemicals/ammonia/trading/

The Tampa contract that sets the world's ammonia price What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.

#### Who buys, and where

- Phosphate makers (OCP Morocco, Indian DAP/NPK producers)
- US Corn Belt distributors (direct application)
- Chemical makers in Europe, Korea and Taiwan
- Japanese utilities for co-firing (emerging)

#### Who sells, and from where

- Trinidad and Tobago (21.4% of reported export value, 2024)
- Saudi Arabia (14.1%)
- Canada to the US (12.6%)
- Indonesia (10.4%)
- Algeria (7.4%)
- Russia (does not report to Comtrade)

#### Price benchmarks

| Benchmark | Publisher | Basis |
|---|---|---|
| **Tampa CFR monthly contract** | Yara-Mosaic settlement, reported by Argus, CRU, QCI | monthly contract |
| **Middle East FOB, Black Sea FOB, NW Europe CFR, CFR India, Far East CFR** | Argus, CRU, ICIS | weekly spot |
| **US Gulf Coast ammonia (FOB)** | USGS (annual average) | annual |

#### Exchanges

| Venue | Contract | Notes |
|---|---|---|
| **CME Group** | Ammonia Tampa CFR (Argus) futures and swaps (indicative) | cash-settled; thin liquidity |

#### Contract types

- Monthly Tampa contract
- Term contracts with formula pricing off benchmarks
- Spot cargoes FOB or CFR
- 10-year fixed-price green ammonia contracts (India SECI)

#### Traders and distributors

- Trammo
- Koch Fertilizer
- Yara (trading arm)
- Ameropa
- Helm

#### How Indian buyers price it

- Imported ammonia priced CFR India off Middle East benchmarks
- DAP makers pass cost into DAP under the NBS subsidy
- Green ammonia fixed by SECI auction at Rs 49.75-64.74/kg for 10 years

#### Recent price points

| Date | Price | Basis | Source |
|---|---|---|---|
| Sep 2026 | **$555/t** | Tampa CFR monthly contract | Fertilizer Daily (10 Sep 2026) |
| May 2026 | **$825/t** | Tampa CFR | Fertilizer Daily (2026) |
| 2025 average | **$450 per short ton (about $496/t)** | FOB US Gulf Coast | USGS MCS 2026 |
| Mar 2025 | **$515/t** | grey ammonia reference used in Indian green tender comparison | pv magazine India (Aug 2025) |
| Aug 2025 | **Rs 51.8/kg (about $591/t)** | green ammonia, SECI auction, delivered Madhya Pradesh | pv magazine India (Aug 2025) |

#### Good sources to follow
[Fertilizer Daily](https://www.fertilizerdaily.com/)free newsletter · independent fertiliser news site

Tampa ammonia settlements, tenders, India subsidy news
[Quantum Commodity Intelligence (ammonia)](https://www.qcintel.com/ammonia/)freemium newsletter · QCI price reporting agency

ammonia prices, including low-carbon ammonia
[IFA (International Fertilizer Association)](https://www.fertilizer.org/)freemium research site · global industry body

ammonia and nitrogen supply and demand statistics
[Nitrogen+Syngas (CRU BCInsight)](https://www.bcinsight.crugroup.com/)paid research site · CRU Group

ammonia plant technology and markets
[JMK Research](https://jmkresearch.com/)freemium research site · Indian clean energy research firm

Indian green ammonia and hydrogen tenders

## Other sections

- [Summary](https://www.materialinsights.org/chemicals/ammonia/index.md)
- [Overview](https://www.materialinsights.org/chemicals/ammonia/overview/index.md)
- [Correlation](https://www.materialinsights.org/chemicals/ammonia/correlation/index.md)
- [Production route](https://www.materialinsights.org/chemicals/ammonia/routes/index.md)
- [Production](https://www.materialinsights.org/chemicals/ammonia/production/index.md)
- [Feedstocks](https://www.materialinsights.org/chemicals/ammonia/feedstocks/index.md)
- [Cycles](https://www.materialinsights.org/chemicals/ammonia/cycles/index.md)
- [Movement](https://www.materialinsights.org/chemicals/ammonia/movement/index.md)
- [Regulation](https://www.materialinsights.org/chemicals/ammonia/regulation/index.md)
- [Characteristics](https://www.materialinsights.org/chemicals/ammonia/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/chemicals/ammonia/emissions/index.md)
- [Relationships](https://www.materialinsights.org/chemicals/ammonia/links/index.md)