Freight

India’s most consumed soil nutrient, urea, has seen a 60% decline in landed cost due to eased global supplies and diversified imports. The Rashtriya Chemicals and Fertilizers has finalized bids for imports of 1.7 million tonnes at a price range of $390/tonne – $393/tonne. The government is reassessing the initial fertiliser subsidy budget due to a price spike caused by the West Asia war.