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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; India anchors global capability West Asia crisis may push India’s current account deficit to 2% of GDP: Crisil Tax Dept to resume Tiger Global reassessment, says GAAR relief won’t alter SC ruling Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March India-UK free trade pact may come into force from second week of May: Official 'West Asia war a good opportunity for energy reforms, lower costs for industry' India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target PM Modi to inaugurate Dehradun-Delhi Expressway on April 14
First urea vessel for India has started via Hormuz, to re...
Prabhudatta Mishra · 2026-06-19 · via Economy News, Latest Economic News Today | The HinduBusinessLine

Out of 16 stranded vessels with fertilisers since the war in West Asia began in February, one urea vessel has started sailing via Strait of Hormuz and is expected to reach a port on east coast in 7-9 days. There are 7 more ships carrying urea that will also start heading to India in the next few days, industry sources said.

“The first vessel with urea, which was supposed to arrive around mid-March got stuck after the war. These urea are from the RCF’s import tender finalised by the Government in mid-February. Once it crosses Hormuz, other vessels too will start sailing,” said an industry source adding by July 15 all the 3 lakh tonnes (lt) imported urea could reach India.

As many as 16 ships carrying different fertilisers – 8 with 3.3 lt of urea, 4 with 2.6 lt DAP, 3 with 1.1 lt Sulphur and 1 ship with ammonia – were awaiting passage though the Strait of Hormuz to reach India.

The tender by public sector RCF in mid-February had received offers and awarded contracts for supply of 10 lt of imported urea at $508 (west coast delivery) and $512 (east coast delivery) for delivery by March 31. But the government had condoned the delay in receiving shipments due to war.

Fertiliser ministry’s joint secretary Bandana Preyashi had earlier said that since March 1 Indian companies have contracted to import 50 lt of fertilisers out of which 21.95 lt of urea and 4.18 lt of DAP have arrived in the country. She also had said that the government was processing the clearance for the import tender for 17 lt more, floated by NFL, which is one of the three canalising agencies for import of urea on government account.

After bids were opened by NFL on June 8, the lowest rates offered by traders/suppliers were - $449 per tonne for the west coast and $445 per tonne for the east coast delivery (CFR), which was much lower compared to the April-tender when the government agreed to import 25 lt of urea at $935 per tonne for the west coast and $959 per tonne for the east coast delivery.

Sources said that the government has issued approval to import about 18 lt of urea through NFL at the lowest rates. Trade sources also said that there is about $15/tonne further fall in imported urea price from the rates received on June 8, taking the current rate to June 2025 level when the average FOB rate was $395/tonne. However, some others said the drop is not that low, so far. But all admitted that import demand for urea has slowed down in Asia and already Australia is said to have announced it will not import in current crop season.

The government earlier said that India has imported a total of 39.36 lt of fertilisers and domestically produced 123.65 lt between March 1 and June 14 this year, which helped in bolstering availability.

India has secured urea supplies from Oman, Malaysia, Vietnam, Georgia, Nigeria, Russia, Finland, Egypt, Algeria, Turkey, and the Netherlands while DAP and complex (combination of N, P, K, S nutrients) fertilisers have been imported from Russia, Morocco, Egypt, USA, Jordan, South Korea, Tunisia and Saudi Arabia after the war.

India had a stock of 196.65 lt of fertilisers as of June 14, whereas it needed 281.12 lt more by September 30 to meet domestic demand. Already 102.78 lt of various chemical fertilisers have been sold between April 1 and June 14.

Published on June 19, 2026