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India's latest urea purchasing inquiry closed on February 7 with the lowest offer at $596.45 per tonne CFR, below the premium India had previously paid. Western producers faced sharply lower netbacks, and the business eroded India's premium over the US and Brazil.
The loss of India's price premium signals softer global nitrogen demand. Lower urea values reduce input costs, though the outlook remains uncertain.
ukragroconsult.comFeb 15, 2022After 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.
