Indian Potash Ltd receives higher urea offers as Iran conflict tightens supply

MUMBAI: 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, after supplies were disrupted by the U.S.-Israeli war with Iran, two company sources said. 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 sources said. IPL issued the tender earlier this month to secure 2.5 million tons of urea, with shipments required to depart loading ports by June 14. India seeks 2.5 million metric tons of urea amid Middle East supply disruptions In the previous urea tender issued by India’s Rashtriya Chemicals and Fertilizers, bids were $508 per ton for west coast delivery and $512 per ton for east coast delivery, the sources said.

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