# Ammonium nitrate: Trading

What a tonne of AN costs, and India's import bill

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

What a tonne of AN costs, and India's import bill 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

- Brazilian distributors (largest importer, 1.2 Mt in 2024)
- Canadian, Peruvian and Indian mining explosives makers
- European co-operatives buying AN and CAN

#### Who sells, and from where

- Russian producers via Baltic and Black Sea ports
- US Gulf producers
- Lithuania (Achema), Georgia and Bulgaria

#### Price benchmarks

| Benchmark | Publisher | Basis |
|---|---|---|
| **AN FOB Baltic / Black Sea** | Argus, CRU | spot, weekly |
| **AN CFR Brazil** | Argus, CRU | spot, weekly |
| **CAN CIF Germany / NW Europe** | Argus, ICIS | spot, weekly |

#### Exchanges

| Venue | Contract | Notes |
|---|---|---|
| **None liquid for AN** | none | urea and UAN swaps on CME are used as nitrogen proxies |

#### Contract types

- Annual or multi-year technical AN supply contracts with explosives makers
- Spot fertiliser cargoes
- Domestic dealer sales in Europe

#### Traders and distributors

- Ameropa
- Koch Fertilizer
- Helm (indicative)

#### How Indian buyers price it

- Technical AN priced on import parity CFR India plus duty, under PESO import licences
- Domestic producers (Deepak/Smartchem, Chambal, RCF) sell on contracts to explosives makers such as Solar Industries (indicative)
- Not covered by fertiliser subsidy

#### Recent price points

| Date | Price | Basis | Source |
|---|---|---|---|
| 2024 average | **$424/t** | world average export unit value | IndexBox (2025) |
| 2024 average | **$442/t** | world average import unit value | IndexBox (2025) |
| 2024 average | **about $401/t** | India import unit value ($164.5 million / 410 kt, derived) | UN Comtrade 2024, derived |

#### Good sources to follow
[Nitrogen+Syngas (CRU BCInsight)](https://www.bcinsight.crugroup.com/)paid research site · CRU Group

AN and nitric acid plants, markets and safety
[IndexBox market overviews](https://www.indexbox.io/blog/ammonium-nitrate-world-market-overview-2024/)freemium research site · IndexBox

AN production and trade estimates
[Fertilizer Daily](https://www.fertilizerdaily.com/)free newsletter · independent fertiliser news site

nitrogen fertiliser prices and policy
[IFA (International Fertilizer Association)](https://www.fertilizer.org/)freemium research site · global industry body

nitrogen supply and demand statistics

## Other sections

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