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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.
Expected Chinese volumes outweigh the Indian tender, so urea prices are likely to stay under downward pressure despite the sizable purchase.
spglobal.comElisavet Levogianni, Lujan Scarpinelli2026/05/27過去の弱気な貿易イベント81件の後、尿素 は5営業日で中央値 -1.0% 動き（28% が上昇。中央50%は -7.2% から +0.4%）、20営業日では -5.5% 動きました。
イベント直前の終値からの各商品ベンチマークの動き。過去の傾向は同種の過去イベントをまとめたものであり、起きたことを示すもので、今後を示すものではありません。投資助言ではありません。
Market participants said the large Indian tender would not offset bearish sentiment from the expected Chinese export quotas of about 3.3 mt.
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.
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.
