MMTC highlighted India’s concerns about the supply of urea, confirmed the tender in a tender and awarded another tender on the same day. Traders’ meaningless aggressive offers meant that MMTC received only 120,000 tons in the July 17 tender, which allowed it to bid again on July 30 to try to buy the
Why traders were willing to sell for glory rather than profit in India's bid remains a mystery. Indian institutions are purchasing on behalf of the government, regardless of whether the price is $300/ton or $200/ton cfr, they will buy the same amount of urea. Someone has to be L1, but why lower it?H
Cliff edge The support from the strong demand in April for the urea market is now basically over, and the prices in May and June are on the edge of the cliff. Vendors are trying to sell, but traders are only trying to make up for short sales, and ultimately there are few buyers, and they are very ca
On the evening of June 24th, India's MMTC announced that the urea was not quantitatively tendered, the bid will be opened on July 1and closed on July 8. The EID is August 16. This is the third tender for this fiscal year. On May 1st, India purchased 741,500 tons.
On June 4, the Sri Lankan Ministry of Agriculture tendered 60,000 tons of bagged granular urea and 5,500 tons of bagged prilled urea, which will be delivered to Colombo before mid-August. 9 quotations were received covering LC and all suppliers provided full tonnage. The lowest price is from Valency