In India, the prices of urea remained stable, following a slight rise recorded the last week. This stability was prompted by a delicately poised demand-supply situation, with prices of ammonia—a critical feedstock for the production of urea—also remaining firm, supporting cost-absorbing production costs. The Kharif crop season has continued to lend support to modest but consistent fertilizer consumption, particularly in major agricultural belts.
Procurement activity is even, with Rashtriya Chemicals and Fertilizers (RCF) getting xx bids in its just-concluded global tender for x million tonnes of urea to be delivered by August-end, equally divided between the country&#xx;s eastern and western coasts. Domestic production continues to be good, with July production seen crossing x.x million tonnes—though continuing to lag last year&#xx;s numbers owing to localized shortages, especially in Telangana. Looking forward, the revival of the Talcher urea plant, backed by a Rs.xx,xxx...
