The Indian Department of Fertilizers (DoF) is yet to clear issuance of a new tender to import urea, but expectations in Delhi remain for a late April clearance by the DoF to one of the three canalising agencies MMTC, IPL or STC. Apart from the significant Indian inventories of urea addressed in prior updates, local production that was already assessed at a record 24.5 million mt from April 2015 through March 2016 will likely increase further on the April 1 reduction in the cost of that feedstock to $3.06/mmBtu, applicable through September 30.
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