Episode 963: Bearish sentiment persists for urea as India surprises with wide shipment window

The small recovery in urea prices is expected to be short lived, with sentiment turning bearish once again after India said it is looking to buy 1m tonnes to be loaded by 1 June. The longer-than-usual shipment window of three months from IPL indicates that prices offered would be lower, as traders are bound to short, while producers are also stuck with unsold stocks, even for February shipment.Urea prices are currently trading at two-year lows, and are a third of record high levels touched in Q2 2022 after the war broke out between Russia and Ukraine.In this latest podcast, ICIS senior editor Sylvia Traganida speaks to deputy managing editor of fertilizers Deepika Thapliyal to discuss the latest developments.