Indian Potash Ltd Sees Rise in Urea Bids Amid Escalating Iran Tensions
Urea Prices Surge Following Disrupted Supplies
Indian Potash Ltd has received offers to supply 5.6 million metric tons of urea in its latest tender at significantly higher prices than in the previous one, due to disrupted supplies caused by the U.S.-Israeli war with Iran. According to two company sources, the lowest offer to supply urea on the west coast was $935 per ton on a cost-and-freight basis, while the lowest offer for the east coast was $959 per ton.
The tender was issued by IPL earlier this month to secure 2.5 million tons of urea, with shipments required to depart loading ports by June 14. In comparison, the previous urea tender issued by India's Rashtriya Chemicals and Fertilizers saw bids of $508 per ton for west coast delivery and $512 per ton for east coast delivery.
| Location | Previous Tender Price | Current Tender Price |
|---|---|---|
| West Coast | $508 per ton | $935 per ton |
| East Coast | $512 per ton | $959 per ton |
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