China to supply bulk of India’s fertiliser tender in major sale
China will ship at least 1.2 million tons of urea to India soon as part of India's recent tender for the key fertiliser. This marks an improvement in global urea market tightness after earlier disruptions. China's loosened export controls are contributing to increased fertiliser availability worldwide.
China plans to supply a significant portion of India's fertiliser tender, with shipments of at least 1.2 million tons of urea expected. This represents two-thirds of the quantity booked for the tender, with the shipments set to leave loading ports by September 24. The news comes as China has loosened export controls on fertilizers recently, following a surge in global prices for the key crop nutrient in April 2022.
India, the world's biggest rice exporter and a major producer of wheat, sugar and cotton, relies heavily on fertilizer for its agricultural economy. The trade is a sign that the tightness in the urea market is improving since the war in Iran disrupted exports from the Middle East earlier in the year.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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