Latest Market News

Indian urea stocks slide in July, monsoon rains rise

  • : Fertilizers
  • 24/08/06

Indian urea sales rose to 4.65mn t last month and monsoon rains have accelerated, supporting domestic consumption, with inventories pressured lower.

Indian domestic urea sales rose to 4.65mn t in July from 4.53mn t in the same month last year, the latest provisional data show. Production was also higher, rising to 2.65mn t from 2.48mn t in July last year.

The rise in domestic consumption resulted in a further drop in countrywide stocks, to 8.7mn t at the end of the month. Inventories had stood at around 10mn t in mid July, down from 11mn t at the end of June and 11.3mn t at the end of May.

Domestic urea demand is expected to remain supported in August, with monsoon rains accelerating to 533.3mm by 6 August since the start of June, up by 6.6pc on the long-term average. The country's meteorological department forecast last week that rainfall for the remainder of the monsoon season in August-September will be "above normal", or higher than 106pc of the long-term mean.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more