Indian tender pressures international urea prices

The new urea tender conducted by the Indian state-owned company Rashtriya Chemicals and Fertilizers (RCF) has attracted significant global interest, with approximately 3.7 million tons offered by 25 different suppliers. According to a daily report by StoneX, released this Wednesday (15), the actual availability may be less than the total reported, as there is a possibility of double counting of loads offered by different traders. India seeks to acquire 2 million tons in this negotiation, and the most competitive prices are expected to be disclosed in the coming days, which will tend to influence international quotations of the input. The Indian move occurs at a time of strong demand for fertilizers in the Brazilian market. Deliveries to producers are proceeding at a rapid pace and exceed the volumes observed in the same period of 2024, as do imports, which remain at high levels. This scenario reflects the anticipation of purchases for the summer crop, amid favorable weather ...