Following China's signal of returning to the international market, India's National Fertilizers Limited (NFL) has announced a new round of urea procurement tender.

The tender closes on June 8, with a planned procurement of 1.7 million tons of urea. The latest allowable vessel loading date is July 20, and the tender remains valid until June 18.

This is the second urea procurement tender launched by India since the outbreak of conflict in the Middle East in late February. The previous round, initiated by Indian Potash Limited (IPL) on April 15, ultimately procured 2.5 million tons at CFR prices of $935–959 per ton.

For this tender, China has set floor FOB export prices for large-particle urea at $670/ton and small-particle urea at $660/ton.

Prior to this, due to international buyers’ reluctance to accept India’s high bidding prices, the spot market had experienced five weeks of sluggish trading, with prices facing continuous downward pressure. Industry sources expect that China’s return to the international market, combined with this Indian tender, will once again accelerate global urea circulation.

Sourcing from AgriGoods Herald on May 28