# Urea fob values move lower as producers back Indian business

> Indian Potash Limited's 20 October urea tender drew confirmations for just under 1.7 million tonnes at $400-404/t CFR for December shipment. Middle East material supplied at least a third of the volume at netbacks in the mid-to-high $380s/t FOB, and Indonesian export licences added about 200,000 tonnes. Producers had earlier targeted over $400/t FOB, and African suppliers were less keen on India.

- Date: 2023-10-27 · published 2023-10-27T12:00:00.000Z
- Category: trade · region India · magnitude medium
- Page: https://feedsoft.ai/events/33947-urea-fob-values-move-lower-as-producers-back-indian-business
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

A large Indian purchase that still came in below producer targets suggests urea prices will soften after the tender, which pressures nitrogen costs for feed-grain and forage growers.

## Read by commodity

- UREA: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2023-08-13 | [Urea Values Fall After Indian Tender \| CZ app](https://feedsoft.ai/events/34501-urea-values-fall-after-indian-tender-cz-app.md) | -0.4% | +6.5% |
| UREA | 2022-11-25 | [PWNI falls further as India heavily influences most fob values](https://feedsoft.ai/events/7852-pwni-falls-further-as-india-heavily-influences-most-fob-values.md) | -10.1% | -11.6% |
| UREA | 2024-11-11 | [India Tender Pushes Urea Prices Lower \| CZ app](https://feedsoft.ai/events/27320-india-tender-pushes-urea-prices-lower-cz-app.md) | +0.5% | +1.3% |
| UREA | 2022-04-26 | [Urea fob values come under further pressure following IPL inquiry](https://feedsoft.ai/events/8657-urea-fob-values-come-under-further-pressure-following-ipl-inquiry.md) | -18.3% | -18.8% |
| UREA | 2021-08-27 | [As September comes into view, supply pressure mounts on producers](https://feedsoft.ai/events/6006-as-september-comes-into-view-supply-pressure-mounts-on-producers.md) | +10.6% | +24.4% |

## Sources

- profercy.com: https://www.profercy.com/insights/urea-fob-values-move-lower-as-producers-back-indian-business

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