Crude oil prices are facing strong resistance from the $103-$105 level. And even though fundamental factors are very bullish for oil prices, this resistance zone has thwarted any further advance for the past 2 months.
Due to steady reduction in cultivable land and declining productivity of agricultural lands, the global agriculture chemical market is expected to surpass US$329 Billion by 2015, according New Industry Report by Global Industry Analysts, Inc.
With rising global price of urea, the India government is likely to raise the maximum retail price of the commodity by 40% so as to help the domestic companies earn better returns.
The outlook for fertilizers in first quarter(Q1) 2012 is clouded due to uncertainities in the Europe.
