
China suspended urea exports on October 15, and strong Indian demand is tightening the market. Urea prices in New Orleans rose 4% in October and 23% year on year, with forward prices for December and January also climbing.
India must source urea elsewhere after China's ban, which is expected to support global nitrogen prices into 2026. The export suspension is a major supply shock.
After 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.
It reports China's urea export halt and strong Indian demand tightening supply, with New Orleans prices and forward December/January prices rising, which supports continued upward price pressure into Nov 3.