India seeks discount in rare one-year urea import tender, say sources -Nidhi Verma

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published Published on Jan 6, 2023   modified Modified on Jan 7, 2023

-ThePrint.in

New Delhi: India has issued a global urea tender asking producers to quote a discount for the supply of 600,000 tonnes of urea, industry sources said and a document shows, as the nation seeks to cut import costs and secure cheaper supplies of the soil nutrient.

India, where soil nutrients are sold at below market rates, annually imports urea through tenders by authorised companies such as India Potash Ltd, Rashtriya Chemicals and Fertilizers Corp and National Fertilizers Ltd.

“This is the first tender where we are seeking quotes on discounts on the lowest price to be discovered through routine tenders … we are essentially locking in the discount number,” one of the sources said.

The tender seeking discounts on supplies in a year from March 1 will close on Jan. 23, with offers remaining valid until Feb. 5, the document shows.

Sellers will have to offer a discount in percentage terms that will be applied to the urea’s delivered price. Delivered prices are set through four to five routine tenders per year for supplies to India’s eastern and western coasts.

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ThePrint.in, 6 January, 2023, https://theprint.in/economy/india-seeks-discount-in-rare-one-year-urea-import-tender-document/1301632/


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