India: Urea import tender may only be floated end March

摘要

There is no fresh information regarding the exact timing of an Indian import tender to be floated by RCF. Most market participants now point to late March as the most obvious timing with shipment requested through to early May but this has not been confirmed. India can afford to wait until April to float a new session. Despite higher sales for March, stocks at the start of April are predicted at 5.9 Mt. As long as imports secured via a tender can be delivered by June, India’s Department of Fertilizers (DoF) is not under pressure.