# Urea: IPL tender brings fob values down, 11 May RCF inquiry may lend support

> IPL India's tender for 78,000t of urea for mid-May shipment offered returns around $725/t fob Middle East, more than $230/t below the highest March price for April shipments. A comparable Indonesian sale for 45,000t of granular urea was also concluded at a similar fob level. Latin American and US demand softened, with Nola barges volatile.

- Date: 2022-04-29 · published 2022-04-29T12:00:00.000Z
- Category: trade · region India · magnitude medium
- Page: https://feedsoft.ai/events/6211-urea-ipl-tender-brings-fob-values-down-11-may-rcf-inquiry-may-lend-support
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Lower Indian tender levels and weak Western import demand push urea values down, which lowers nitrogen input costs for feed grain production and reduces pressure on feed prices.

## Read by commodity

- UREA: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| UREA | 2022-05-04 | 5 | -19.6% | -3.8 | The IPL tender and an Indonesian sale cleared at around $725/t fob, more than $230/t below the March peak, which reset price benchmarks lower, and Latin American and US demand softened. |
| UREA | 2022-05-02 | 5 | -18.9% | -3.6 | IPL tender at about $725/t fob Middle East, more than $230/t below the March peak, reset global urea price benchmarks sharply lower, and a comparable Indonesian sale confirmed it. |
| UREA | 2022-04-29 | 1 | -14.3% | -5.3 | The IPL tender result of about $725/t fob, more than $230/t below the March peak, along with a similar Indonesian sale and softer Latin American and US demand, reset price benchmarks lower on the day. |
| UREA | 2022-04-28 | 1 | -14.3% | -5.9 | IPL tender returns near $725/t fob, more than $230/t below the March peak, along with an Indonesian sale at similar levels and softer Latin American and US demand, reset price benchmarks lower. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2020-03-27 | [Urea market poised for RCF India tender](https://feedsoft.ai/events/54425-urea-market-poised-for-rcf-india-tender.md) | +0.8% | 0.0% |
| 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 | 2024-03-30 | [Indian Tender pushes Urea prices down.](https://feedsoft.ai/events/5304-indian-tender-pushes-urea-prices-down.md) | -13.2% | -18.2% |
| UREA | 2023-10-27 | [Urea fob values move lower as producers back Indian business](https://feedsoft.ai/events/33947-urea-fob-values-move-lower-as-producers-back-indian-business.md) | -4.8% | -8.8% |

## Sources

- profercy.com: https://www.profercy.com/urea-ipl-tender-brings-fob-values-down-11-may-rcf-inquiry-may-lend-support/

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