India Receives Urea Offers 10% Lower Than August Prices
India received urea tender offers nearly 10% lower than August prices, providing relief as farmers prepare for winter planting following supply disruptions caused by war in Iran.
The Government of India received urea tender offers nearly 10% lower than the prices paid during August purchases. Offers for the west coast ranged from $356.25 to $416.50 per ton, while east coast offers ranged between $352.10 and $465 per ton.
This price decline follows a period of extreme volatility in which India paid as much as $959 per ton. Those price spikes occurred after the start of a war in Iran disrupted urea supplies from the Middle East.
The easing costs arrive as Indian farmers prepare for the winter planting season for chickpeas, rapeseed, and wheat. The drop in import prices is expected to reduce the national fertilizer subsidy expenditures and provide relief to global farmers facing high input costs.
