International urea market is waitting for the India tender
Publish Time: 2019-12-25 Origin: Site
The Indian government delay the next tender,which has clouded the optimism in the urea market this week. The CFR price in Brazil reached US $ 240 / ton last Friday, but have kept stable since then, while Nola FOB prices is US $ 224 / ton, then fell back to US $ 218 / ton.
India ‘s urea sales in December are expected to reach 5 million tons, a higest record in a single month, so more urea is urgently needed to be imported. But the huge procurement tenders in October and November have exhausted the financial resources of importing agencies, causing DOF to postpone additional funding.
Once the bid is confirmed, traders will begin to evaluate supply options and prices.
Elsewhere, traders have begun buying granular urea from Baltic Sea to make up for sales in West Africa. Fob prices are close to $ 210 per ton, and demand from Turkey remains active.