Unsettled is probably the word most participants would use to describe themselves and the state of the urea at present. Fears over the spread of Covid-19 are ever present and coupled with the recent oil price crash have made the market jittery. Latest news emerging from India suggests MMTC will now be the canalising agency used for the upcoming urea tender with the go-ahead from the Department of Fertilizers (DoF) reportedly already provided. MMTC will likely call for offers for quantities to load into May but a nationwide curfew which will take effect on Sunday, March 22 could conceivably influence timely processing of an MMTC tender.
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