Urea import costs ease as India's fertiliser subsidy bill pressure set to ease

India's new urea tender is expected to secure the nutrient at lower prices. Rashtriya Chemicals and Fertilizers received bids significantly below previous rates. This development offers relief to the nation's substantial fertilizer subsidy bills. Global urea prices declined in May after an initial surge following the West Asia crisis. India, a major importer, sells urea to farmers at heavily subsidized rates.