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India issued a global urea import tender seeking discounts on 600,000 tonnes for supply from March 1, the first tender to lock in discount levels. The tender closes January 23 with offers valid until February 5, and India aims to import about 4 million tonnes through routine tenders in the year.
India's large import program is a major source of global urea demand, and discount-based bids could push producers to cut offers, pressuring urea prices lower.
theprint.inNidhi VermaJan 6, 2023After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
