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Global urea markets were subdued during the week with limited buying, while traders await a possible new Indian tender of about 2.5 million MT with an indicated L1 of USD 370-375 PMT CFR. Hormuz disruptions continue to restrict Middle Eastern exports, and Brazilian urea imports are estimated to run 20-30% below normal in 2026.
India's tender is the key price signal for global urea; a tender at the indicated level would support prices, while weak Brazilian demand and constrained Gulf supply keep the market balanced. Higher energy costs in Europe support ammonia prices, which feed through to feed-grain input costs.
hortidaily.comNov 2, 2026Not enough comparable past events yet for a historical read.
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.
