India had purchase tender for urea actualized

`MMTC` company (Metals and Minerals Trading Corporation of India) completed a purchase tender on April 25, having offered about 2.7 million tonnes of urea (to be shipped by May 23). The most obtainable cash valuations were observed, as follows: $218/t FOB China, $226.92/t CFR India (down by $28/t, related to common offers of the previous tender, having been held by `Indian Potash Limited` on November 28, 2015). Should we estimate urea of Chinese origin in particular, corresponding pricing was validated as rather high. The commodity is projected to be shipped from Iran, as well as the Middle East states.