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India to import 2.5 million tons of urea at a premium

RT International·@HashtagPLUS·about 1 month ago
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#india#iran#israel#middleeast#urea#prices
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New Delhi’s reported record purchases, ahead of its monsoon sowing season, are expected to push up prices and strain supplies globally India has agreed to import urea at double the prices it paid earlier this year, amid the supply disruption caused by the Middle East conflict, Reuters has reported. New Delhi is set to import a record 2.5 million metric tons of the nitrogen-based fertilizer in a single tender, the news outlet reported on Wednesday, citing government sources. Indian Potash Ltd. has agreed to buy 1.5 million tons of urea at $935 per ton for delivery on the west coast, and an additional ⁠1 million tons at $959 per ton for delivery on the east coast, according to the report. Before the US and Israel launched the war on Iran in late February, India’s Rashtriya ⁠Chemicals and Fertilizers received bids at $508 per ton for west coast delivery and $512 per ton for east coast delivery, Reuters reported.…

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