# PWNI falls further as India heavily influences most fob values

> India's NFL urea tender booked 1.47m tonnes for shipment by 22 December, more than most had expected. Suppliers from Nigeria, Algeria, Egypt and China sold at fob levels near Q1 2022 lows because demand from other major markets was weak.

- Date: 2022-11-25 · published 2022-11-25T12:00:00.000Z
- Category: trade · region India · magnitude medium
- Page: https://feedsoft.ai/events/7852-pwni-falls-further-as-india-heavily-influences-most-fob-values
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

The tender removed large volumes, but with no other buyers stepping in, global urea sentiment stayed weak and fob prices remained under pressure.

## Read by commodity

- UREA: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| UREA | 2022-11-29 | 1 | -7.0% | -4.1 | India's NFL tender booked 1.47m t, more than expected, which pushed fob offers toward Q1 2022 lows and signaled weak demand elsewhere, pressuring global urea benchmarks. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| 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 | 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 | 2021-04-09 | [PWNI continues to descend as urea market seeks post India price floor](https://feedsoft.ai/events/47906-pwni-continues-to-descend-as-urea-market-seeks-post-india-price-floor.md) | -1.3% | -3.7% |
| UREA | 2024-11-04 | [India's Urea Tender Fails to Revive Prices \| CZ app](https://feedsoft.ai/events/27723-india-s-urea-tender-fails-to-revive-prices-cz-app.md) | -2.0% | -1.9% |

## Sources

- profercy.com: https://www.profercy.com/insights/pwni-falls-further-as-india-heavily-influences-most-fob-values

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