India’s urea stocks climb in October

Spanish Market: Fertilizers
04/11/25

Indian urea inventories hit around 6.9mn t at the end of October, marking a second monthly build since August, as imports climbed after multiple tenders and production picked up.

The rising stocks are bridging a gap to levels a year ago, with inventories at 7.8mn t and 6.8mn t at the end of October and September last year, respectively. Stocks had slipped as low as 3.5mn t at the end of August this year.

Stocks rose by a net 2.12mn t in October, with domestic production of 2.68mn t and imports of 1.6mn t outstripping local sales of 2.33mn t, the latest provisional data show.

Production of 2.68mn t was the highest since the start of 2024, while sales were stable on the year.

Imports of 1.6mn t mark a slight slip from record receipts of 1.94mn t in September, but remained comfortably above typical monthly levels. Imports have jumped in recent months following a quick succession of state-backed buy tenders, with Indian firms lining up 6mn t of urea across four tenders in July-October.

Market participants are anticipating another buy tender to be floated by Indian importer and supplier IPL in the coming weeks, while RCF will close a long-term buy tender on 1 December.

By Harry Minihan

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05/12/25

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Brazil increases 2025 coffee crop outlook

04/12/25

Brazil increases 2025 coffee crop outlook

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India’s urea stocks hold at above 7mn t

04/12/25

India’s urea stocks hold at above 7mn t

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Indian DAP stocks end Nov above 2.1mn t

04/12/25

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Adecoagro makes offer for remaining 50pc in Profertil

03/12/25

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