Rashtriya Chemicals & Fertilizers called a urea tender to close May 25. The shipping deadline is June 30, just a bit more than a week after the shipping deadline for the MMTC tender. The rapid call of the tender confirmed reports that India is expected to fall short of its urea needs following the previous two tenders, which only brought in 1.35 million mt. Sources said RCF will be looking for at least 1 million mt. However, the rising prices in the urea market – Egypt now at $375/mt FOB and the Arab Gulf at $365/mt FOB – could make the large purchase difficult for the Indian treasury.
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