# Urea fob values come under further pressure following IPL inquiry

> India's IPL urea tender for 78,000 tonnes for mid-May shipment drew limited participation, with offers from four companies. The lowest offer was $716.50 per tonne CFR east coast from OQ Trading, well below earlier levels. Urea fob values have fallen nearly $300 per short ton over four weeks from a late-March record in the US Gulf as most buyers defer purchases.

- Date: 2022-04-26 · published 2022-04-26T12:00:00.000Z
- Category: trade · region India · magnitude medium
- Page: https://feedsoft.ai/events/8657-urea-fob-values-come-under-further-pressure-following-ipl-inquiry
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Lower tender offers and weak buying signal a sharp retreat in nitrogen prices from the wartime peak, reducing input costs for fertilizer-exposed crop production. Continued purchase deferrals could keep prices under pressure.

## Read by commodity

- UREA: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| UREA | 2022-05-02 | 5 | -18.9% | -3.6 | Limited participation in the IPL tender and low offers, with most buyers deferring purchases, pushed fob values down nearly $300/st from the late-March record. |
| UREA | 2022-04-28 | 1 | -14.3% | -5.9 | IPL tender drew limited participation with offers far below earlier levels, and buyers deferring purchases pushed urea fob values down sharply, which directly fits the one-day price drop. |
| UREA | 2022-05-04 | 5 | -19.6% | -3.8 | The IPL tender drew limited participation and low offers while most buyers deferred purchases, putting further pressure on fob values (published 26 April, just before the window). |
| UREA | 2022-04-29 | 1 | -14.3% | -5.3 | Limited IPL tender participation and low offers, with buyers deferring purchases and fob values down nearly $300/st from the March record, built the downward pressure that carried into the 29 April drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2022-04-29 | [Urea: IPL tender brings fob values down, 11 May RCF inquiry may lend support](https://feedsoft.ai/events/6211-urea-ipl-tender-brings-fob-values-down-11-may-rcf-inquiry-may-lend-support.md) | -16.6% | -16.3% |
| 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 | 2022-11-25 | [PWNI falls further as India heavily influences most fob values](https://feedsoft.ai/events/7852-pwni-falls-further-as-india-heavily-influences-most-fob-values.md) | -10.1% | -11.6% |
| UREA | 2022-02-15 | [India loses its premium over global market following latest urea purchasing inquiry 15.02.2022 - UkrAgroConsult](https://feedsoft.ai/events/43021-india-loses-its-premium-over-global-market-following-latest-urea-purchasing.md) | +0.4% | +43.3% |

## Sources

- profercy.com: https://www.profercy.com/insights/urea-fob-values-come-under-further-pressure-following-ipl-inquiry

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