Indian Potash, one of the three canalising agencies for import of urea on government account, has received total supply offers of nearly 6 million tonnes (mt) though the April 4 tender asked for a quantity of 2.5 mt. However, the CFR rates offered by suppliers and traders at $935 per tonne for the west coast and $959 per tonne for the east coast have sent shock waves across the global market. The government will take a call on the quantity to buy and at what price by April 23.
The previous tender by public sector RCF in mid-February had received offers for supply of 1 mt of imported urea at $508 (west coast delivery) and $512 (east coast delivery) for delivery by March 31, though the government condoned delay in receiving shipments due to war.
“If the lowest rate is compared with the RCF tender, this time there is an 84 per cent increase in only two months. While the West Asia war is one factor, the other is India’s decision to rush through with such a huge quantity in a single bid. The world knows that India is desperate to buy as the sowing season is set to commence from June. If the government decides to buy at such a high rate, it may further inflate global urea rates,” said a trader who participated in the bid which was opened today.
Sources said that the lowest price for the west coast is offered by Millenium Commodity at $935 per tonne only for 56,000 tonnes. But Aditya Birla Global Trading has offered $941.70 per tonne for 1.35 mt against the tender requirement of 1.5 mt. The highest price for the west coast is $1,136 per tonne for 100,000 tonnes by Comet Trading, sources said.
The lowest price of $959 per tonne for the east coast is offered by Chasemax for 100,000 tonnes, against the requirement of 1 mt. Aditya Birla Global Trading has offered a maximum of 650,000 tonnes for east coast delivery at $966 per tonne. The highest price for the east coast is $1,136 per tonne only for 50,000 tonnes again by Comet Trading, sources said.
Published on April 15, 2026