The AdBlue index is based on two sub indices:
A.for 40% based on the Urea (Prill) fob Baltic price (see below)
B.for 60% based on the Eurostat Consumer price index (see below)
As the AdBlue sales price is quoted in pound the urea US $ quotes are converted into pounds at the end of each trading day.

The resulting index variation will be applied to the contract price.

Ad A. This index is calculated based on the Fertecon site www.fertilizer-index.com / Fertilizer Index / Latest Prices / Urea (Prill) fob Baltic (metric tonne). Every Thursday this price is fixed for the coming week.

Ad B. This index is calculated based on the Eurostat site
www.epp.eurostat.ec.europa.eu HICP (Harmonised Indices of Consumer Prices) – Main Tables - All items - Index (2005 = 100) / Euro area (15 countries).

The exchange rate Euro – dollar can be find at the website of the Bank of England: www.bankofengland.co.uk ( -> Statistics -> Daily Spot Rates -> US dollars)
Below you will find a detailed description with an example of how the index is calculated.

The quarterly index developments are published further on this website.

AdBlue Index calculation:

Ad A. Urea (Prill) fob Baltic (metric tonne)

At www.fertilizer-index.com / Fertilizer Index / Latest Prices / Urea (Prill) fob Baltic (metric tonne) you will find this quote. Every Thursday this price is fixed for the coming week. The quarterly index is calculated as follows: take the US $ quote of the first Thursday of every month, convert it into Pounds against the exchange rate at the end of this Thursday and calculate the quarterly average index from these three quotations.

At the first of the month of a new quarter the quarterly index variation is calculated: this quarterly index variation equals the variation between the last known quarter index divided by previous one.

As an example we calculate the urea index variation per July 1, 2007:
Urea Fertecom Baltic sea fob high Q2 2007: 218,51
Urea Fertecom Baltic sea fob high Q1 2007: 211,05
Urea index variation for Q3 2007: (218,51 – 211,05) / 211,05 = 3,53%

Ad B. Eurostat Consumer price index

At www.epp.eurostat.ec.europa.eu
under Special topics at the left side of the screen you will find HICP,
under Data / Main headings you will find HICP - All items index (2005 = 100) with Euro area (15 countries) which gives a monthly index figure.
The quarterly index is calculated as follows: take the quote of each month within the quarter and calculate the quarterly average index.

At the first of the month of a new quarter the quarterly index variation is calculated as follows: the quarterly index variation equals the variation between the index of the first month of the last quarter divided by the index of the previous quarter (= average of 3 months).

As an example we calculate the consumer price index variation for Q3 2007:
Consumer price HICP – All items - Index (2005 = 100) April 2007: 104,16
Consumer price HICP – All items - Index (2005 = 100) Q1 2007: 102,94
Consumer price index variation for Q3 2007: (104,16 – 102,94) / 102,94= 1,19%

Price update per July 1, 2007
40% of Urea index variation for Q3 2007: = 40% of 3,53% = 1,41%
60% of Consumer price index variation for Q3 2007: = 60% of 1,19 % = 0,71%

Price increase per July 1, 2007 = 2,12%