Urea Ammonium Nitrate (UAN) Price Trend and Forecast 2026-2027

Urea ammonium nitrate (UAN) is a liquid nitrogen fertilizer produced from urea and ammonium nitrate solutions, used extensively as a crop application fertilizer across row-crop and specialty agriculture. Natural gas feedstock costs, and crop application demand all feed into the price.

Global UAN prices in Q1 2026 stood at USD 0.408 per KG in North America, the highest among tracked markets, and USD 0.369 per KG in Europe, the most competitively priced tracked market. North America held the higher tracked price on strong crop application demand and elevated natural gas feedstock costs, while Europe benefited from more moderate regional demand conditions. Russian export constraints continued to shape global UAN trade flows, with steady crop application demand underpinning consumption across tracked regions.

What is UAN Price in August 2026?

UAN prices held close to Q1 2026 levels through August 2026, tracking regional natural gas feedstock and crop application demand differentials, as Russian export constraints continued to shape global trade flows.

• North America: North American UAN prices held near USD 0.39 to USD 0.43 per KG, close to the USD 0.408 per KG recorded in Q1 2026 and the highest among tracked markets, as strong crop application demand and elevated natural gas feedstock costs continued to sustain the regional premium.
• Europe: European UAN prices held near USD 0.35 to USD 0.39 per KG, the most competitively priced tracked market, close to the USD 0.369 per KG recorded in Q1 2026, as more moderate regional demand conditions continued to anchor pricing.
• Trade Outlook: Russian export constraints continued to shape global UAN trade flows, with steady crop application demand underpinning baseline consumption across tracked regions.

Urea Ammonium Nitrate (UAN) Price Forecast for 2026

The UAN supply-demand balance through 2026 is expected to remain tight, particularly in Europe where the Russian export constraint is structural. The spring application season in both regions is the primary Q2 demand catalyst, and early indications point to above-average corn planted area in North America. The primary upside risk is further Russian export restrictions; the primary downside risk is a US natural gas price decline enabling Gulf Coast producers to undercut import supply significantly.

For the Quarter Ending March 2026

UAN Prices Q1 2026:

• Europe: USD 0.369/KG
• North America: USD 0.408/KG

Urea Ammonium Nitrate (UAN) Prices in Europe

European UAN averaged USD 0.369/KG in Q1 2026, rising 12.6% from USD 0.328/KG in Q4 2025. The sharp Q1 advance reflected the combination of active pre-spring procurement across France, Germany, and Eastern Europe and continued supply tightness from limited Russian and Belarusian export availability. European buyers moved quickly in Q1 to secure volumes ahead of the anticipated Q2 peak application window, concentrating demand at a time of constrained supply.

Domestic European UAN producers in Germany, Norway, and the Netherlands operated at near-capacity but remained unable to fully meet the seasonal demand surge from domestic production alone. The Q2 2026 trajectory of USD 0.403/KG confirms that the pre-season buying wave is continuing, with the peak demand period now under way across the major agricultural markets.

Why did the price of UAN change in Q1 2026 in Europe?

Concentrated pre-spring procurement by major agricultural markets accelerated buying into Q1. Continued Russian and Belarusian export constraints maintained the structural supply deficit. The 12.6% Q1 advance confirmed the structural tightness was amplified by the seasonal demand surge, setting up the Q2 application season peak.

Urea Ammonium Nitrate (UAN) Prices in North America

North American UAN averaged USD 0.408/KG in Q1 2026, rising 4.4% from USD 0.391/KG in Q4 2025. The Q1 recovery was driven by early corn belt pre-spring buying, with distributors beginning to move product into the inland retail network ahead of the anticipated Q2 planting season. Gulf Coast producers raised prices modestly as order books filled with pre-season demand.

Import volumes from the Middle East, while competitive on a landed cost basis, could not rapidly enter the inland barge and pipeline distribution network, sustaining domestic producer pricing power. The Q2 2026 trajectory of USD 0.445/KG indicates the spring season is delivering a more substantial surge than the Q1 pre-season build.

Why did the price of UAN change in Q1 2026 in North America?

Early corn belt pre-spring buying activated the seasonal demand recovery from the Q4 trough. Gulf Coast producers captured the improving order book with modest price increases. Import competition from the Middle East was limited by liquid fertiliser inland distribution constraints, sustaining the 4.4% Q1 recovery.

For the Quarter Ending December 2025

UAN Prices Q4 2025:

• Europe: USD 0.328/KG
• North America: USD 0.391/KG

Urea Ammonium Nitrate (UAN) Prices in Europe

European UAN averaged USD 0.328/KG in Q4 2025, rising 3.2% from USD 0.318/KG in Q3. The Q4 gain reflected pre-season demand from the United Kingdom and Ireland, where autumn and winter grass management applications maintain steady UAN consumption beyond the main spring season. European domestic production costs remained elevated due to continued high natural gas import prices, providing a firm cost floor that limited any downside from the post-season demand easing on the continent.

Reduced Russian export availability continued to support the European market as the alternative import supply from the Middle East and North Africa was insufficient to fully replace the lost volume. The 3.2% Q4 gain marked three consecutive quarters of price appreciation in Europe, confirming the structural nature of the supply tightness rather than a temporary seasonal spike.

Why did the price of UAN change in Q4 2025 in Europe?

Autumn and winter grass management demand from the UK and Ireland maintained buying activity beyond the main continental crop season. Restricted Russian import availability and elevated natural gas production costs kept the cost floor firm, producing the 3.2% Q4 gain and confirming the structural supply deficit as a multi-quarter price driver.

Urea Ammonium Nitrate (UAN) Prices in North America

North American UAN averaged USD 0.391/KG in Q4 2025, a modest decline of 1.4% from the Q3 level of USD 0.396/KG as the fall corn application window began to close in November and December. The decline was limited as pre-spring positioning activity from some distributors offset the seasonal demand easing. Domestic Gulf Coast UAN production maintained output at near-full utilisation rates through Q4, keeping supply available but not creating a surplus.

Import volumes from the Middle East arrived at competitive prices in Q4, providing supply competition for domestic producers. However, the logistics and handling requirements for liquid UAN limited the volume that could be placed into the inland distribution network quickly, sustaining the regional price above levels that simple import parity calculations would imply. The Q4 close of USD 0.391/KG maintained North America as the higher-priced reporting region.

Why did the price of UAN change in Q4 2025 in North America?

The conclusion of the fall application season reduced procurement urgency. Competitive Middle Eastern imports entered the market but were constrained by liquid fertiliser logistics, limiting the downside to 1.4%. Distributor pre-spring positioning activity absorbed excess supply and kept prices near the Q3 level.

Quarterly Urea Ammonium Nitrate (UAN) Price Trends

UAN prices across Europe and North America rose consistently through 2025 and into 2026. The global average climbed from USD 0.298/KG in Q1 2025 to USD 0.388/KG in Q1 2026, a gain of 30.2%. Russian export constraints and firm natural gas production costs were the structural underpinning of the multi-quarter uptrend. The Q2 2026 in-progress trajectory signals further advance as the spring application season provides the strongest seasonal demand catalyst.

What was Urea Ammonium Nitrate (UAN) Price in 2025?

UAN prices posted a broad annual gain through 2025 across both reporting regions. Europe saw the sharpest annual increase, with prices rising 24.6% from Q1 to Q4 2025, driven by the tightening of Russian fertiliser export flows and higher European natural gas production costs. North America gained 17.2% over the same period, with the strong Q2 surge establishing a higher price base that persisted through Q3 and Q4. The three primary drivers of 2025 pricing were:

• Restricted Russian UAN export availability to European and North American markets due to trade policy measures, tightening the global supply pool
• The strong Q2 spring pre-season procurement surge in North America, driven by active corn belt buying ahead of the planting season
• Firm domestic natural gas costs in the United States and higher imported gas prices in European UAN production plants maintaining the production cost floor

Urea Ammonium Nitrate (UAN) Prices in Europe in 2025

European UAN rose from USD 0.263/KG in Q1 2025 to USD 0.328/KG in Q4 2025, a full-year gain of 24.6%. The sharpest move was Q2 at plus 20.7% as European markets entered the spring application season amid restricted Russian export availability. Q3 was broadly flat and Q4 rose 3.2% on UK and Irish grass management demand.

Urea Ammonium Nitrate (UAN) Prices in North America in 2025

North American UAN rose from USD 0.333/KG in Q1 2025 to USD 0.391/KG in Q4 2025, a full-year gain of 17.2%. The Q2 spring pre-season surge of 15.5% was the defining quarterly move, driven by active corn belt procurement and reduced import availability. North America maintained a premium over Europe through 2025, reflecting higher liquid UAN import logistics costs.

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Expert Market Research: Your Source for Real-Time UAN Price Intelligence

Expert Market Research tracks UAN prices across Europe and North America, tracing every move through natural gas feedstock costs, Russian export policy changes, seasonal agricultural demand cycles, and Gulf Coast production economics. Forecasts integrate feedstock economics, crop area projections, and import flow data. Contact us for UAN pricing data and procurement advisory.