Imported urea prices off December 2021 highs; remain elevated in May

The landed price of imported urea in the country has softened by almost 27 per cent in May 2022 from the peak seen in December 2021.

However, the rates are still considerably higher than the same period last year by almost 95.4 per cent. In the case of urea, 20-30 per cent of annual domestic consumption is imported. 

For DAP, imported prices remained high in May, of which nearly half of the domestic consumption is imported.

In case of key raw materials, the data shows that ammonia prices dropped in May compared to April, while others remained range-bound.