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BusinessToday · India · India's urea import price doubles on Hormuz shock then halves as China resumes exports
Reports Indian Potash Ltd (IPL) finalising 2.5 million tonnes of urea at $935/tonne (west coast) and $959/tonne (east coast), roughly double pre-war prices. The tender attracted 5.6 million tonnes of bids. At least seven vessels (around 300,000 tonnes) were stuck behind the Strait of Hormuz blockade. Shipment deadline was June 14. Framed as a record-cost import round driven by the Hormuz closure.
“India imported record urea at nearly double the price, with IPL securing 2.5 million tonnes at $935-959 per tonne amid the Hormuz crisis.”