India: MMTC set to float urea tender March 20

摘要

MMTC is now expected to float a urea import tender March 20. A go-ahead by India’s Department of Fertilizers (DoF) has reportedly been provided. MMTC will likely call for offers for quantities to load into May but the market is cautious amid the spread of Covid-19 across the globe, and urea values have been rapidly deteriorating over the last 24 hours. Indian Prime Minister Narendra Modi called for a curfew to take effect on Sunday, March 22 in his March 19 address to the nation, and this could conceivably influence timely processing of an MMTC tender.