# Participants doubt Indian tender will reverse bearishness in urea markets | S&P Global

> India's National Fertilizers Ltd issued a tender on May 27 to buy 1.7 million mt of urea, with offers due June 8 and shipment by July 20. Market participants doubted the tender would offset bearish sentiment driven by expected Chinese export quotas of about 3.3 million mt.

- Date: 2026-05-27 · published 2026-05-27T12:00:00.000Z
- Category: trade · region India · magnitude medium
- Page: https://feedsoft.ai/events/7283-participants-doubt-indian-tender-will-reverse-bearishness-in-urea-markets-s-and
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Expected Chinese volumes outweigh the Indian tender, so urea prices are likely to stay under downward pressure despite the sizable purchase.

## Read by commodity

- UREA: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| UREA | 2026-06-04 | 5 | -21.5% | -4.7 | Market participants said the large Indian tender would not offset bearish sentiment from the expected Chinese export quotas of about 3.3 mt. |
| UREA | 2026-05-31 | 1 | -17.0% | -11.4 | Market participants said India's 1.7 Mt tender would not offset bearish sentiment from expected Chinese export quotas of about 3.3 Mt, showing sentiment dominated by supply expectations. |
| UREA | 2026-06-05 | 5 | -21.5% | -4.4 | Market participants said the Indian tender (1.7 million mt) would not offset bearish sentiment from expected Chinese export quotas of about 3.3 million mt, so the supply outlook outweighed demand support. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2025-09-04 | [India’s Record Urea Tender Shakes Fertilizer Markets](https://feedsoft.ai/events/6878-india-s-record-urea-tender-shakes-fertilizer-markets.md) | -0.6% | -5.5% |
| 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 | 2021-03-26 | [PWNI makes first decline of 2021; urea market activity stalls as participants await outcome of latest Indian purchasing tender](https://feedsoft.ai/events/48432-pwni-makes-first-decline-of-2021-urea-market-activity-stalls-as-participants.md) | -3.6% | -1.5% |
| UREA | 2026-10-11 | [India’s Latest Urea Tender Signals Relief on Global Fertiliser Costs](https://feedsoft.ai/events/17353-india-s-latest-urea-tender-signals-relief-on-global-fertiliser-costs.md) | +2.6% | — |
| UREA | 2026-10-02 | [Urea price rally stalls on sluggish Brazilian demand as market awaits India's latest tender](https://feedsoft.ai/events/654-urea-price-rally-stalls-on-sluggish-brazilian-demand-as-market-awaits-india-s.md) | -1.4% | +1.1% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/052726-participants-doubt-indian-tender-will-reverse-bearishness-in-urea-markets

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