BASKET REPORT

The Granular Urea Basket Price was developed in 1992 and re-centered effective 20 April 2001 as a pricing mechanism for spot and contract urea cargoes being shipped to the Pacific Rim. It is calculated weekly by IRM, utilizing a theoretical formula that gives equal weighting to prices published by major trade publications for granular urea FOB vessel from the Middle East, SE Asia, the U. S. Gulf, and Latin America. The "Basket Price" is now distributed to over 100 companies around the world.