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LATEST NEWS UPDATES | Urea prices go down by up to 45 per cent in global market due to fall in demand -Harvir Singh

Urea prices go down by up to 45 per cent in global market due to fall in demand -Harvir Singh

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published Published on Jun 24, 2022   modified Modified on Jul 4, 2022

-RuralVoice.in

Urea prices, which had gone up to as high as nearly $1,000 per tonne, have come down to $550 per tonne. Besides, the price of ammonia, the raw material for urea, has also decreased from $1,100 per tonne to $850 per tonne. India had to buy urea at up to $980 per tonne due to the high prices.

It seems the government may get some relief on the subsidy front that had been inflating due to record-breaking fertilizer prices. The relief will come on account of the steep decline seen in urea prices. A substantial decline has been registered in the prices of urea and ammonia, its raw material, in the global market due to the off-season after February and a steep fall in demand.

According to industry sources, urea prices, which had gone up to as high as nearly $1,000 per tonne, have come down to $550 per tonne. Besides, the price of ammonia, the raw material for urea, has also decreased from $1,100 per tonne to $850 per tonne. India had to buy urea at up to $980 per tonne due to the high prices.

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RuralVoice.in, 24 June, 2022, https://eng.ruralvoice.in/national-23/urea-prices-go-down-by-up-to-45-per-cent-in-global-market-due-to-fall-in-demand.html


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