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India's RCF secured 1.3 million tonnes of urea at $508-512/t cfr, with letters of intent issued on February 24. The purchase was about 200,000 tonnes larger than earlier availability estimates and absorbed most remaining spot supply for March.
Spot values in the Middle East, SE Asia and Indonesia advanced toward multi-year highs.
Heavy Indian buying removes nearby urea supply and pushes buyers in other markets to pay more for April arrivals. Prices are approaching July 2025 levels seen during Iran-related disruption, so urea costs for feed-grain and corn growers are likely to stay firm.
profercy.comChris YearsleyFeb 25, 2026After 176 past bullish trade events, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% 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.
