India, one of the world’s biggest urea importers, received offers for the soil nutrient that were 12% below the June purchase price, signaling that the war-driven tightness in the global fertilizer market is easing.
State-run producer Rashtriya Chemicals & Fertilizers Ltd., which also imports urea on behalf of the government, received offers for about 3.1 million tons against a 1 million-ton tender for the west coast, with prices between $393.65 and $435 a ton, according to people familiar with the matter.
