# Urea Market Looks to India Tender For Support | CZ app

> Urea prices are falling, with US NOLA prompt trading around $400/short ton FOB barge and May as low as $320-330/short ton, and Middle East and Brazil values also weakening. Market participants are looking to next week's India tender for support, though Russian prilled urea is expected to set aggressive pricing. Processed phosphate prices are under pressure from increased Chinese exports, while potash is steady.

- Date: 2024-03-25 · published 2024-03-25T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/31143-urea-market-looks-to-india-tender-for-support-cz-app
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [DAP](https://feedsoft.ai/c/DAP.md)

## Why it matters

Lower urea and DAP values reduce input costs for feed-grain and oilseed production, which can weigh on sentiment for corn and soy margins. A weak India tender would confirm further downside in global nitrogen pricing.

## Read by commodity

- DAP: bearish ▼
- UREA: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| UREA | 2024-04-02 | 5 | -12.6% | -3.0 | Falling NOLA, Middle East and Brazil urea values ahead of the India tender, with aggressive Russian pricing expected, show the downward pressure building before the move. |
| DAP | 2024-04-04 | 5 | -12.6% | -3.6 | Processed phosphate prices were said to be under pressure from increased Chinese exports, a bearish supply signal. |

## Sources

- czapp.com: https://www.czapp.com/analyst-insights/urea-market-looks-to-india-tender-for-support/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.