Indian urea import costs reach $1,000 in latest tender
Indian urea import offers reached $1,000 per ton, doubling recent prices due to Middle East conflict. This may raise global costs and India's subsidy bill.
The price of urea in India has surged to approximately $1,000 per metric ton following a recent tender by Indian Potash Ltd, nearly doubling the rates recorded just two months ago. This significant price hike is primarily driven by supply chain disruptions stemming from the ongoing conflict involving the United States, Israel, and Iran.
As the world's largest importer of urea, the high prices accepted by Indian agencies are expected to exert upward pressure on global spot markets. Industry analysts suggest that this trend will likely force smaller agricultural buyers across Asia and Africa to pay a premium for the crop nutrients essential for maintaining food production levels.
