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Urea Price Trend and Forecast

⟳ Weekly Update
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

urea Price Trends by Country

cnChina
inIndia
egEgypt
qaQatar
usUnited States
brBrazil
itItaly
frFrance
saSaudi Arabia
krSouth Korea

Global urea Spot Market Prices, Trend Analysis and Forecast

Price Watch™ provides price assessments for Urea across the top trading regions:

Asia-Pacific

  • Urea Granular Fertilizer Grade FOB Shanghai China
  • Urea Granular Fertilizer Grade FOB Tanjung Perak Indonesia
  • Urea Granular Fertilizer Grade FOB Port Kelang Malaysia
  • Urea Granular Fertilizer Grade CIF Kandla (Oman) India
  • Urea Granular Fertilizer Grade CIF Kandla (Saudi Arabia) India
  • Urea Granular Fertilizer Grade- Ex-Work India
  • Technical Grade Urea (TGU) FOB Qingdao
  • Automotive Grade Urea (AGU) FOB Qingdao
  • Technical Grade Urea (TGU) CIF Nhava Sheva (China)
  • Automotive Grade Urea (AGU) CIF Nhava Sheva (China)
  • Technical Grade Urea (TGU) Ex- Vadodara
  • Automotive Grade Urea (AGU) Ex-Vadodara


Europe

  • Urea Granular Fertilizer Grade FOB Novorossiysk Russia


Middle East

  • Urea Granular Fertilizer Grade FOB Sohar Oman
  • Urea Granular Fertilizer Grade FOB Mesaieed Qatar
  • Urea Granular Fertilizer Grade FOB Jubail Saudi Arabia
  • Urea Granular Fertilizer Grade FOB Ruwais Port UAE


Note: In assessments structured as CIF [Importing Port] (Exporting Country), the country mentioned in brackets indicates the primary origin of supply (exporting country), while the named port refers to the destination port in the importing country. Other Incoterms (FOB, FD, EXW, etc.) should be interpreted in accordance with standard international trade definitions.

Urea Price Trend Q1 2026

In Q1 2026, the global urea market exhibited a strong bullish trend, driven by geopolitical disruptions and significant supply outages across key production hubs.

The ongoing U.S.–Israel–Iran conflict disrupted energy markets and trade flows through the Strait of Hormuz, while operational disruptions and shutdowns at major production facilities in the Middle East including Saudi Aramco halted operations at its Ras Tanura refinery, QAFCO (Qatar), and ADNOC facilities in Ruwais (UAE) further constrained export availability.

In the Middle East, reduced operating rates and intermittent shutdowns across these large-scale export-oriented plants tightened supply considerably, pushing FOB prices up by ~29–31%. Feedstock gas constraints and logistical uncertainties amplified the supply squeeze.

Asia Pacific markets followed the upward trajectory, with Indonesia and Malaysia recording gains of 27–48%, supported by reduced Middle Eastern supply and continued Chinese export restrictions, which removed a key global supplier.

In India, import prices surged sharply, with CIF Kandla prices from Oman and Saudi Arabia rising above 32–33%, as buyers faced limited cargo availability and elevated freight risks. Domestic prices (ex-Vadodara) also increased by over 30%, reflecting strong import parity.

Russia saw a comparatively moderate rise (~21.65%), supported by relatively stable operations. Overall, plant-level disruptions at major Middle Eastern producers, combined with war-driven energy shocks and export curbs, created a structurally tight global supply environment, sustaining elevated urea prices

China: Urea Exported Price Trend in China, Granular Fertilizer Grade FOB Shanghai, Technical Grade Urea (TGU) and Automotive Grade Urea (AGU) FOB Qingdao

In Q1 2026, Fertilizer Grade Urea imports into India from China were significantly constrained due to strict regulatory measures and export restrictions. From 15 October onward, the Chinese government suspended exports of Granular Fertilizer Grade, Technical Grade Urea (TGU) and Automotive Grade Urea (AGU) until further notice, sharply limiting outbound shipments and reducing availability for international markets. This intervention led to a notable tightening of global supply from China.

India: Urea Imported Price Trend in India, Granular Fertilizer Grade CIF Kandla (Oman)

According to Price-Watch™, in Q1 2026, Urea price trend in India exhibited a sharply bullish price trend, primarily driven by expensive imports from Oman amid tightening global supply conditions and elevated cost structures.

Firm FOB benchmarks in Oman, influenced by the Iran–Israel War, significantly impacted CIF prices in India as disruptions in the Strait of Hormuz constrained export flows and increased freight and war-risk premiums.

Rising packaging costs and elevated logistics expenses further inflated landed prices, while reduced export availability from the Middle East tightened global supply. Additionally, strong tender-based procurement and robust Agricultural Demand in India sustained higher import volumes, reinforcing upward price momentum.

Imports prices from Oman increased during the quarter due to the depreciation of the Indian currency by approximately 4% alongside rising FOB prices, further amplifying CIF price escalation. Delayed shipments and higher freight rates contributed to the firm pricing environment.

In March 2026, Urea price in India increased from the previous month, increased by around 41%, reflecting peak import cost pressures and supply tightness. Overall, Granular Fertilizer Grade Urea price in India, marking a quarterly increase of around 32%, indicating a strong price trend driven by elevated import costs, geopolitical disruptions, and sustained domestic demand.

India: Urea Exported Price Trend in India, Technical Grade Urea (TGU) Ex-Vadodara

In Q1 2026, Urea price trend in India experienced a strong upward price trend, primarily driven by supply-side constraints and elevated global market dynamics.

Domestic availability tightened significantly as limited import inflows, particularly from China, reduced overall market supply following stringent export restrictions imposed by the Chinese government on Technical Grade availability in global markets.

Additionally, firm Natural Gas prices supported higher production costs, while steady demand from downstream industrial applications, including automotive and chemical sectors, sustained market momentum. Supply Chain Disruptions and elevated logistics costs further intensified price pressures across domestic markets.

In March 2026, Technical Grade Urea prices in India recorded a sharp price trend increased by 44% from the previous month, reflected tight supply conditions and aggressive restocking activity.

Overall, Technical Grade Urea price in India, Ex-Vadodara, marked a significant quarterly increase of 33%, highlighting the combined impact of constrained supply, firm feedstock costs, and strong downstream demand.

India: Urea Exported Price Trend in India, Automotive Grade Urea (AGU) Ex-Vadodara

In Q1 2026, Urea price trend in India experienced a significant upward price trend, primarily driven by constrained supply dynamics and firm global market conditions.

The suspension of Automotive Grade Urea exports by China effective from October 15 had significantly curtailed global availability, thereby tightening supply in international markets and indirectly supporting higher domestic prices in India.

Reduced import dependency and limited alternative sourcing options intensified pressure on local inventories. Additionally, firm Natural Gas prices elevated production costs, while steady demand from the automotive sector, particularly for Diesel Exhaust Fluid (DEF) applications, sustained strong offtake levels.

Supply Chain Disruptions and elevated logistics costs further contributed to the bullish sentiment observed during the quarter. In March 2026, Urea prices in India recorded a sharp price trend increased by 41% from the previous month, reflecting aggressive restocking and limited product availability.

Overall, Urea price in India, Ex-Vadodara, marked a quarterly increase of ~31%, highlighting the combined impact of global supply constraints, firm feedstock costs, and resilient downstream demand.

Indonesia: Urea Exported Price Trend in Indonesia, Granular Fertilizer Grade FOB Tanjung Perak

In Q1 2026, Urea price trend in Indonesia demonstrated a significant upward price trend, primarily driven by tightening regional supply and strong export demand across key Asian markets.

The escalation of geopolitical tensions due to the Iran–Israel War disrupted global fertilizer trade flows, particularly impacting Middle Eastern supply availability, which shifted demand toward alternative exporters such as Indonesia.

This resulted in increased export inquiries and higher offtake volumes, tightening domestic availability and pushing FOB prices upward.

Additionally, firm Natural Gas prices supported elevated production costs, while Supply Chain Disruptions especially higher freight rates and vessel uncertainties further reinforced bullish pricing sentiment.

Strong Agricultural Demand from importing countries ahead of planting seasons also contributed to sustained export momentum. In March 2026, Urea price in Indonesia increased from the previous month, increased by 48%, reflecting intensified global supply tightness and heightened export demand.

Overall, Granular Fertilizer Grade Urea price in Indonesia, marking a quarterly increase of around 29%, indicating a robust price trend driven by supply reallocation, geopolitical disruptions, and strong international demand.

Malaysia: Urea Exported Price Trend in Malaysia, Granular Fertilizer Grade FOB Port Kelang

In Q1 2026, Urea price trend in Malaysia witnessed a pronounced upward price trend, primarily supported by strong export demand and tightening regional supply dynamics.

The escalation of geopolitical tensions during the Iran–Israel War significantly disrupted fertilizer exports from the Middle East, particularly impacting flows through the Strait of Hormuz, thereby shifting procurement demand toward Southeast Asian suppliers such as Malaysia.

This redirection of global demand increased export volumes from Malaysia, tightening domestic availability and exerting upward pressure on FOB prices. Additionally, firm Natural Gas prices contributed to elevated production costs, reinforcing the bullish pricing environment.

Supply Chain Disruptions, including higher freight costs and vessel uncertainties, further supported price increases, while sustained Agricultural Demand from key importing regions ahead of planting cycles strengthened export momentum.

In March 2026, Urea price in Malaysia increased from the previous month, increased by 48%, reflecting peak global supply constraints and heightened export activity.

Overall, Granular Fertilizer Grade Urea price in Malaysia, marking a quarterly increase of around 27%, indicating a strong price trend driven by geopolitical disruptions, supply reallocation, and robust international demand.

Oman: Urea Exported Price Trend in Oman, Granular Fertilizer Grade FOB Sohar

In Q1 2026, Urea price trend in Oman exhibited a strong upward price trend, primarily driven by tightening supply conditions and escalating production costs amid the Iran–Israel War.

The conflict significantly disrupted export flows through the Strait of Hormuz, leading to vessel movement restrictions, higher freight rates, and increased insurance costs, which collectively constrained export availability from Oman.

FOB Oman prices rose by approximately 16% since February last week, driven by producer offer withdrawals, elevated energy costs, and logistical disruptions that tightened overall supply in the region. Additionally, rising Natural Gas prices further increased production costs, reinforcing the bullish price trend.

Strong Agricultural Demand from major importing regions, particularly in Asia, supported higher export offtake, while ongoing International Trade & Logistics challenges, including shipment delays and rerouting, amplified supply tightness.

In March 2026, Urea price in Oman increased from the previous month, increased by 38%, reflecting peak disruption in supply chains and heightened export demand.

Overall, Urea price in Oman, Granular Fertilizer Grade FOB Sohar, marking a quarterly increase of 29.17%, indicating a firm price trend driven by geopolitical disruptions, constrained export availability, and elevated feedstock and logistics costs.

Qatar: Urea Exported Price Trend in Qatar, Granular Fertilizer Grade FOB Mesaieed

In Q1 2026, Urea price trend in Qatar registered a sharply bullish price trend, primarily driven by severe supply disruptions across the Middle East following the Iran–Israel War. Urea prices spiked during the quarter as the conflict triggered widespread plant shutdowns, logistics constraints, and export bottlenecks, significantly tightening global availability.

A major impact was observed when QatarEnergy halted output at the Mesaieed complex, the world’s largest urea production facility, after suspending gas supply due to attacks on LNG infrastructure.

This plant shutdown substantially reduced export volumes from Qatar, directly constraining supply and pushing FOB prices upward. Additionally, restricted trade flows through the Strait of Hormuz created further Supply Chain Disruptions, increased freight costs and delaying cargo movements. Elevated Natural Gas prices also raised production costs, reinforcing the upward price trend.

Strong pre-season Agricultural Demand from major importing countries further intensified export pressure. In March 2026, Urea price in Qatar increased from the previous month, increas by 38%, reflecting peak supply tightness and export limitations.

Overall, Granular Fertilizer Grade Urea price in Qatar, marking a quarterly increase of around 31%, indicating a strong price trend driven by geopolitical disruptions, plant shutdowns, and constrained regional supply.

Russia: Urea Exported Price Trend in Russia, Granular Fertilizer Grade FOB Novorossiysk

In Q1 2026, Urea price trend in Russia recorded a firm upward price trend, primarily driven by strong export demand and shifting global trade dynamics amid the Iran–Israel War. The disruption of Middle Eastern supply routes, particularly through the Strait of Hormuz, significantly reduced global export availability, prompting buyers to increasingly rely on Russian volumes.

This reallocation of demand supported higher export offtake from key ports such as Novorossiysk, tightening domestic supply and elevating FOB prices. Additionally, relatively stable firm Natural Gas ensured consistent production while maintaining elevated cost structures, supporting price strength.

International Trade & Logistics remained active; however, longer trade routes and increased freight demand contributed to higher overall transaction costs, reinforcing bullish sentiment. Strong Agricultural Demand from major importing regions further sustained export momentum during the quarter.

In March 2026, Urea price in Russia increased from the previous month, increased by 37%, reflecting intensified global supply tightness and robust export activity. Overall, Granular Fertilizer Grade Urea price in Russia, marking a quarterly increase of around 22%, indicating a upward price trend driven by supply rebalancing, geopolitical disruptions, and sustained international demand.

Saudi Arabia: Urea Exported Price Trend in Saudi Arabia, Granular Fertilizer Grade FOB Jubail

In Q1 2026, Urea price trend in Saudi Arabia recorded a sharply bullish price trend, primarily driven by severe supply disruptions across the Middle East following the Iran–Israel War. Urea prices rose significantly during the quarter, with week-on-week gains of approximately 16–17%, supported by reduced operating rates and constrained output across regional production hubs.

The conflict disrupted export flows through the Strait of Hormuz, restricting vessel movement and creating export bottlenecks, which tightened supply availability and elevated FOB prices. Additionally, Supply Chain Disruptions, including higher freight costs and logistical delays, further intensified market tightness.

Rising Natural Gas prices contributed to increased production costs, reinforcing the upward price trend, while strong pre-season Agricultural Demand from major importing countries sustained robust export activity from Saudi Arabia.

International Trade & Logistics inefficiencies, including rerouting and limited vessel availability, further supported price escalation during the quarter. In March 2026, Urea price in Saudi Arabia increased from the previous month, increased by around 38%, reflecting peak supply constraints and heightened export demand.

Overall, Granular Fertilizer Grade Urea price in Saudi Arabia, marking a quarterly increase of around 30%, indicating a strong price trend driven by geopolitical disruptions, constrained regional supply, and elevated feedstock and logistics costs.

UAE: Urea Exported Price Trend in UAE, Granular Fertilizer Grade FOB Ruwais Port

In Q1 2026, Urea price trend in UAE exhibited a sharply bullish price trend, primarily driven by acute supply disruptions across the Middle East amid the Iran–Israel War. The conflict significantly disrupted export logistics through the Strait of Hormuz, restricting vessel movement and tightening regional supply availability.

Urea prices rose sharply during the quarter, with notable week-on-week gains of approximately 16–17%, supported by reduced operating rates and supply curtailments across key production hubs. A major escalation occurred when Qatar Energy and QAFCO halted its urea plant after suspending gas supply following attacks on LNG facilities, further constraining export volumes across the region.

These developments significantly reduced spot availability, diverting global demand toward limited operational suppliers such as the UAE, thereby elevating FOB prices. Additionally, rising Natural Gas prices increased production costs, while intensified pre-season Agricultural Demand from Asian markets further supported export momentum.

International Trade & Logistics challenges, including higher freight rates and rerouting delays, amplified supply tightness and reinforced the upward price trend. In March 2026, Urea price in UAE increased from the previous month, increased by 38%, reflecting peak disruption in supply chains and strong export demand.

Overall, Granular Fertilizer Grade Urea price in UAE, marking a quarterly increase of around 29%, indicating a firm price trend driven by geopolitical disruptions, plant-level supply shocks, and constrained regional exports.

Urea Price Trend Analysis: Q4 2025

In Q4 2025, the global granular urea fertilizer grade market faced broad downward price pressure from easing demand and improved supply across major regions, with month-end adjustments remaining largely muted.

In Asia Pacific, China declined quarterly due to moderated domestic agricultural demand and stable feedstock, holding steady in December. Indonesia and Malaysia retreated from softer regional exports and balanced inventories, with minor December corrections.

In South Asia, India’s Middle East imports fell quarterly but edged up slightly in December from targeted procurement. The Middle East saw quarterly drops despite steady export tenders, with small December gains amid easing demand.

Europe experienced the sharpest quarterly decline from subdued demand and abundant supply, continuing downward into December. Overall, Q4 signalled a global correction after Q3 firmness, influenced by region-specific factors that stabilized prices by quarter-end.

China: Urea Exported Price Trend in China, Granular Fertilizer Grade FOB Shanghai

In Q4 2025, Urea price trend in China experienced a moderated downward price trend, primarily driven by easing domestic demand in the agricultural sector and ample inventory levels across key production hubs.

Stable feedstock Natural Gas availability supported consistent production, preventing sharper declines despite weaker off-take during the quarter.

International Trade & Logistics remained uninterrupted, facilitating steady export flows, though subdued regional and global buying interest contributed to reduced upward momentum.

In December 2025, Urea prices in China remained stable compared to the previous month, recording no change, as market participants awaited clearer demand signals before adjusting offers.

Overall, Urea price in China FOB Shanghai prices for Granular Fertilizer Grade, marking a quarterly decrease by around 9%. The price trend reflected a combination of balanced supply, moderated agricultural consumption, and cautious market sentiment, aligning with the broader corrective phase observed in the global Urea market during Q4 2025.

China: Urea Exported Price Trend in China, Technical Grade Urea (TGU) FOB Qingdao

In Q4 2025, Urea price trend in China experienced a declining trajectory, primarily influenced by regulatory interventions and weakening export momentum during the quarter. The Chinese government’s tightening control over Technical Grade, significantly restricted outbound shipments and reduced international trade activity. Additionally, sufficient domestic inventory levels placed further downward pressure on prices. Feedstock Natural Gas and coal availability remained stable, ensuring consistent production rates, which contributed to oversupply conditions within the domestic market. Furthermore, the announcement of export restrictions effective mid-October dampened market sentiment, leading to cautious procurement behavior among buyers. In December 2025, Urea prices in China decreased from the previous month, decreasing by around 8%, reflecting continued pressure from restricted export avenues and soft demand conditions.

China: Urea Exported Price Trend in China, Automotive Grade Urea (AGU) FOB Qingdao

In Q4 2025, Urea price trend in China for Automotive Grade Urea (AGU) experienced a notable downward price trend, primarily driven by stringent government regulations and declining export activity during the quarter.

The announcement and implementation of export restrictions beginning mid-October significantly curtailed outbound shipments and limiting access to global markets. This led to an accumulation of inventories within domestic markets, exerting downward pressure on prices.

Additionally, stable feedstock Natural Gas and coal availability ensured consistent production levels, further intensifying oversupply conditions amid reduced export demand. Industrial consumption remained subdued, particularly from the automotive sector, contributing to weaker market sentiment.

The policy-driven export curbs also reduced arbitrage opportunities, dampening price support from international buyers.

In December 2025, Automotive Grade Urea prices in China decreased from the previous month by around 9%, reflecting continued impact of restricted exports and soft demand fundamentals.

India: Urea Imported Price Trend in India, Granular Fertilizer Grade CIF Kandla (Oman)

In Q4 2025, Urea price trend in India under CIF Kandla (Oman) followed a moderated corrective price trend, primarily influenced by softer import demand and stable supply conditions from Oman.

International Trade & Logistics remained efficient, ensuring consistent arrivals, while regional variations in domestic agricultural uptake slightly tempered procurement activity. Natural Gas Prices in Oman stayed stable, supporting uninterrupted production and limiting abrupt fluctuations in export offers.

In December 2025, Urea prices in India increased by 2.3% from the previous month, reflecting short-term market adjustments amid the broader quarterly decline. Overall, CIF Kandla (Oman) prices in Q4 20225 for Granular Fertilizer Grade, marking a quarterly decrease of around 7%. The FOB Oman pricing dynamics and logistical consistency underpinning the CIF price levels.

The market-maintained equilibrium between supply availability and measured domestic consumption, with no major plant shutdowns or capacity expansions impacting export flows during the quarter, consistent with the broader Urea pricing corrections observed across the Asia-Pacific region.

India: Urea Imported Price Trend in India, Technical Grade Urea (TGU) CIF Nhava Sheva (China)

In Q4 2025, Urea price trend in India for Technical Grade Urea (TGU) CIF Nhava Sheva from China experienced a downward price trend, primarily influenced by weaker import prices from the exporting country and subdued downstream demand.

The Chinese market witnessed declining FOB prices amid ample domestic availability and restricted export activity following regulatory interventions announced in mid-October, which limited international trade flows. This resulted in relatively cheaper import offers to India during the quarter.

Additionally, stable Natural Gas and coal availability in China supported consistent production levels, leading to sufficient supply and reduced-price pressure. Industrial demand in India remained moderate, particularly in resins, adhesives, plastics and furniture manufacturing, further limiting upward price momentum.

In December 2025, Technical Grade Urea prices in India decreased from the previous month, decreasing by around 6%, reflecting the impact of softer FOB China prices and balanced supply conditions.

India: Urea Price Trend in India, Technical Grade Urea (TGU) Ex- Vadodara

In Q4 2025, Urea price trend in India for Technical Grade Urea (TGU) Ex- Vadodara experienced a downward trajectory, primarily driven by subdued domestic demand and sufficient inventory levels across key distribution hubs. Stable availability of feedstock Natural Gas supported consistent production rates among domestic manufacturers, preventing any supply-side tightness during the quarter.

Additionally, reduced import parity pressure, influenced by declining FOB prices in China amid export restrictions and adequate supply, contributed to softer pricing in the domestic market. Industrial demand from downstream sectors, including resins, adhesives, plastics and furniture manufacturing, remained moderate, limiting upward price movement.

Furthermore, well-established supply chain operations ensured uninterrupted product availability, reducing the likelihood of price volatility. However, toward the end of the quarter, a marginal improvement in demand supported slight price recovery.

In December 2025, Technical Grade Urea prices in India increased from the previous month, increased by ~5%, reflecting short-term demand support despite the broader bearish trend. Overall, Urea price in India, Technical Grade Urea (TGU) Ex- Vadodara, marking a quarterly decrease of ~8%.

India: Urea Price Trend in India, Automotive Grade Urea (AGU) Ex- Vadodara

In Q4 2025, Urea price trend in India for Automotive Grade Urea (AGU) Ex- Vadodara experienced a declining trend, primarily influenced by subdued domestic demand and sufficient product availability across key manufacturing and distribution centers.

Stable feedstock Natural Gas supply supported consistent production levels, preventing any supply-side constraints during the quarter. Additionally, weaker import parity, driven by declining FOB prices in China amid regulatory interventions and export restrictions, exerted downward pressure on domestic pricing.

The announcement of China’s suspension of Automotive Grade Urea exports from mid-October disrupted supply chain however, prior inventory availability and moderate demand from the automotive and emissions control sectors limited upward price movement in India.

Furthermore, steady supply chain operations ensured smooth product flow, reducing market volatility. Toward the end of the quarter, improved downstream demand supported a marginal recovery in prices.

In December 2025, Automotive Grade Urea prices in India increased from the previous month, increased by ~3%, reflecting short-term demand support. Overall, Urea price in India, Automotive Grade Urea (AGU) Ex- Vadodara, marking a quarterly decrease of ~5%.

India: Urea Price Trend in India, Granular Fertilizer Grade, Ex-Factory

In Q4 2025, Urea price trend in India for Granular Fertilizer Grade Ex-Factory remained stable, primarily governed by strong regulatory control and subsidy mechanisms in the domestic fertilizer sector.

Government pricing policies and fixed nutrient-based subsidy structures ensured that price fluctuations in feedstock Natural Gas and international markets had minimal direct impact on domestic fertilizer pricing.

Despite global volatility and declining FOB prices in China due to export restrictions and ample supply, the Indian market remained insulated from these external dynamics.

Agricultural demand during the quarter remained steady, supported by seasonal application cycles; however, it did not exert upward pressure on prices due to controlled distribution and pricing frameworks.

Additionally, stable domestic production levels and efficient supply chain management ensured adequate product availability across regions, preventing any supply-driven price fluctuations.

In December 2025, Urea prices in India remained stable compared to the previous month, recording no change. There is no change in Granular Fertilizer Grade Ex-Factory Urea price in India due to fully regulated and controlled pricing environment.

Indonesia: Urea Exported Price Trend in Indonesia, Granular Fertilizer Grade FOB Tanjung Perak

In Q4 2025, Urea price trend in Indonesia under FOB Tanjung Perak followed a corrective price trend, primarily shaped by subdued regional demand and moderated export flows from local suppliers.

Supply levels remained stable due to uninterrupted production, supported by consistent Natural Gas Prices, which underpinned cost efficiency and limited sharp volatility in offers.

International Trade & Logistics functioned smoothly, maintaining timely shipments, while regional differences in agricultural consumption slightly tempered buying activity throughout the quarter.

In December 2025, Urea prices in Indonesia decreased by 0.3% from the previous month, reflecting minor market adjustments amid the broader quarterly decline.

Overall, FOB Urea price in Indonesia in Q4 20225 for Granular Fertilizer Grade, marking a quarterly decrease of around 11%. The FOB Tanjung Perak pricing dynamics influenced by steady supply, competitive pressures, and market sentiment.

No major plant shutdowns, capacity expansions, or new installations affected output during this period, and the market-maintained balance between supply availability and measured regional demand, aligning with the global Urea pricing corrections observed across the Asia-Pacific region.

Malaysia: Urea Exported Price Trend in Malaysia, Granular Fertilizer Grade FOB Port Kelang

In Q4 2025, Urea price trend in Malaysia under FOB Port Kelang followed a corrective downward price trend, driven by softening regional demand and stable supply conditions across the Asia-Pacific market.

Production remained uninterrupted, supported by steady Natural Gas Prices, which maintained cost-efficient output and limited abrupt fluctuations in export offers. International Trade & Logistics operated efficiently, ensuring regular shipments, while regional differences in agricultural consumption slightly moderated buying activity.

In December 2025, Urea prices in Malaysia decreased by 0.3% from the previous month, reflecting minor adjustments amid the broader quarterly decline. Overall, Urea FOB price in Malaysia in Q4 2025 for Granular Fertilizer Grade, marking a quarterly decrease of 10.8%.

The FOB Port Kelang pricing is shaped by competitive market dynamics and consistent supply availability. No significant plant shutdowns, capacity expansions, or new installations occurred during this quarter, supporting balanced market conditions and aligning with the broader global Urea pricing corrections observed across the Asia-Pacific region.

Oman: Urea Exported Price Trend in Oman, Granular Fertilizer Grade FOB Sohar

In Q4 2025, Urea price trend in Oman under FOB Sohar demonstrated a modest corrective price trend, influenced by steady production levels and balanced supply-demand dynamics within the Middle East region.

Natural Gas Prices remained stable, supporting consistent manufacturing costs and limiting abrupt volatility in export offers. International Trade & Logistics operated efficiently, enabling uninterrupted shipments, while regional differences in agricultural consumption slightly moderated domestic procurement activity.

In December 2025, Urea prices in Oman increased by around 1.3% from the previous month, reflecting short-term adjustments within the broader quarterly decline. Overall, Urea FOB prices in Oman in Q4 2025 for Granular Fertilizer Grade, marking a quarterly decrease of 8.9%.

The FOB Sohar pricing is shaped by competitive market conditions and regular export flows. No major plant shutdowns, capacity expansions, or new project additions occurred during the quarter, maintaining supply stability and aligning the regional Urea market with the observed global corrective pricing patterns in Q4 2025.

Qatar: Urea Exported Price Trend in Qatar, Granular Fertilizer Grade FOB Mesaieed

In Q4 2025, Urea price trend in Qatar under FOB Mesaieed followed a moderated corrective price trend, primarily influenced by stable Natural Gas Prices and balanced production output supporting consistent supply levels.

International Trade & Logistics remained efficient throughout the quarter, ensuring steady export flows, while regional differences in agricultural demand across the Middle East slightly moderated buying activity.

In December 2025, Urea prices in Qatar increased by around 2 % from the previous month, reflecting minor short-term adjustments within the broader quarterly decline. Overall, Urea FOB price in Qatar in Q4 2025 for Granular Fertilizer Grade, marking a quarterly decrease of 9.5%.

The FOB Mesaieed prices shaped by stable feedstock costs and ongoing market competitiveness. No significant plant shutdowns, capacity expansions, or new project additions occurred, maintaining supply continuity.

Export flows from Qatar aligned with prevailing regional dynamics, and measured domestic consumption in neighboring markets reinforced the observed corrective trend, consistent with the global Urea pricing adjustments across the Middle East in Q4 2025.

Russia: Urea Exported Price Trend in Russia Granular Fertilizer Grade FOB Novorossiysk

In Q4 2025, Urea price trend in Russia under FOB Novorossiysk followed a pronounced downward price trend, primarily influenced by softer European demand and moderated agricultural uptake amid seasonal harvest patterns.

Natural Gas Prices, which underpin ammonia and Urea production costs, remained relatively stable, providing support to supply levels, though regional inventory accumulations exerted downward pressure.

In December 2025, Urea prices in Russia decreased by around 4% from the previous month, reflecting ongoing adjustments in response to weaker export demand and competitive pricing across the Black Sea corridor.

Overall, Urea FOB price in Russia in Q4 2025 for Granular Fertilizer Grade, marking a quarterly decrease of 13.8 % with market participants managing production output and exports to balance local supply against external demand fluctuations.

Logistics continuity through Novorossiysk ensured steady flows, but regional differences in pricing competitiveness and mild international trade frictions contributed to restrained price recovery.

FOB Novorossiysk pricing dynamics highlighted a corrective trend aligned with global Urea market movements during the quarter, particularly within the Europe and Eurasia regions.

Saudi Arabia: Urea Exported Price Trend in Saudi Arabia, Granular Fertilizer Grade FOB Jubail

In Q4 2025, Urea price trend in Saudi Arabia under FOB Jubail followed a moderated corrective price trend, primarily driven by balanced supply levels and steady Natural Gas Prices, which underpinned production costs.

International Trade & Logistics remained efficient, enabling consistent export flows to Asian and regional markets, while domestic agricultural demand displayed seasonal moderation, slightly tempering buying activity.

In December 2025, Urea prices in Saudi Arabia increased by around 2% from the previous month, reflecting short-term market adjustments amid broader quarterly pressures. The overall price trend in Q4 2025 recorded a quarterly decline of 8.8% with exporters managing outputs to align with competitive global pricing and regional inventory levels.

Regional differences, particularly in demand from Gulf Cooperation Council countries and Asian importers, influenced pricing dynamics, while no major plant shutdowns, capacity expansions, or supply disruptions occurred during the quarter. FOB Jubail pricing demonstrated stability amid controlled market volatility, aligning with the overall Urea price trend observed in the Middle East for Q4 2025.

UAE: Urea Exported Price Trend in UAE, Granular Fertilizer Grade FOB Ruwais Port

In Q4 2025, Urea price trend in the UAE under FOB Ruwais Port exhibited a moderated corrective price trend, driven by stable supply levels and consistent Natural Gas Prices supporting production efficiency.

International Trade & Logistics remained smooth, ensuring uninterrupted export flows to key Asian and regional markets, while domestic agricultural demand experienced seasonal moderation, influencing short-term buying patterns.

In December 2025, Urea prices in the UAE increased by 1.9 % from the previous month, reflecting minor market adjustments amid a broader quarterly decline. The overall price trend in Q4 2025 recorded a quarterly decline of 8.6% with exporters balancing inventory levels and market competition to maintain pricing stability.

Regional differences, particularly in demand from neighboring Gulf countries and Asia-Pacific importers, contributed to price dynamics, while no significant plant shutdowns, capacity expansions, or supply chain disruptions were reported.

Urea FOB price in Russia during the quarter aligned closely with the broader Urea market trend observed across the Middle East, reflecting controlled market volatility and measured supply management.

In Q3 2025, the global Urea market experienced a mixed but predominantly downward price trend, reflecting regional supply-demand imbalances and easing cost pressures.

In the Asia Pacific region, including China, India, Indonesia, and Malaysia, the price trend softened due to subdued agricultural demand and stable feedstock Natural Gas availability, which supported consistent production levels.

China witnessed declining export prices, with both Technical Grade Urea and Automotive Grade Urea registering monthly declines in September 2025, while India’s import markets at Kandla and Nhava Sheva reflected weaker CIF values due to reduced upstream FOB prices and moderate domestic demand.

In the Middle East, covering Saudi Arabia, Oman, Qatar, and the UAE, the price trend remained bearish as ample production capacity and steady export flows weighed on prices, with September 2025 showing consistent declines across FOB benchmarks.

In Europe and North America, limited direct pricing data suggested stable-to-soft sentiments influenced by balanced supply and moderate consumption.

Meanwhile, in South America, pricing trends aligned with global softness due to sufficient import availability. Overall, the global Urea market reflected a quarterly correction phase, with most regions experiencing price declines in September 2025, driven by adequate supply, steady production, and cautious buying activity.

China: Urea Exported Price Trend in China, Granular Fertilizer Grade FOB Shanghai

In Q3 2025, Urea Price trend in China exhibited a firm upward price trend, primarily driven by strong Agricultural Demand during the late summer application season and tightened export availability from domestic producers.

Elevated Natural Gas costs in certain producing regions supported higher production expenses, while disciplined output management limited spot market availability. Additionally, firm International Trade activity, particularly from South Asian and Latin American buyers, strengthened export realizations from Chinese suppliers.

However, toward the end of the quarter, improved port inventories and moderated overseas inquiries exerted downward pressure on spot offers. In September 2025, Urea prices in China decreased by around 6% compared to the previous month, reflecting softer export bookings and cautious procurement strategies.

Overall, Urea FOB price in China during the quarter, registering a quarterly increase of around 26%. The combination of export-driven demand strength and supply-side cost support defined the prevailing Urea price trend in the Chinese market under FOB Shanghai terms.

China: Urea Exported Price Trend in China, Technical Grade Urea (TGU) FOB Qingdao

In Q3 2025, Urea price trend in China exhibited a mixed trajectory, initially supported by stable downstream industrial demand and balanced supply conditions, followed by a correction toward the end of the quarter.

Adequate feedstock Natural Gas availability ensured steady production rates across major manufacturing hubs supported consistent export flows during the early part of the quarter.

However, as inventories gradually built up and buying interest from key importing regions softened, pricing momentum weakened. Additionally, cautious procurement behavior and sufficient availability in regional markets contributed to downward pressure on export prices.

In September 2025, Urea prices in China decreased by around 6% from the previous month reflected easing demand fundamentals and ample supply. Technical Grade Urea price in China, marking a quarterly increase of ~12%, indicated that early-quarter strength outweighed the late-quarter correction.

China: Urea Exported Price Trend in China, Automotive Grade Urea (AGU) FOB Qingdao

In Q3 2025, Urea price trend in China demonstrated an initial upward trajectory followed by a notable correction toward the end of the quarter, reflecting shifting market fundamentals.

Stable feedstock Natural Gas availability supported consistent production levels across major facilities, while steady industrial demand from the automotive emissions segment sustained early-quarter price strength.

International Trade & Logistics conditions remained stable, facilitating regular export activity during the initial months. However, as inventories accumulated and export demand from key global markets softened, pricing pressure emerged.

Additionally, cautious procurement strategies and sufficient product availability in importing regions contributed to the downward adjustment in prices.

In September 2025, automotive grade urea prices in China decreased by ~7% from the previous month, highlighted the impact of weakening demand and ample supply. Overall, Urea price in China, marking a quarterly increase of ~13%, reflected stronger price realizations in the earlier part of the quarter despite the late-quarter decline.

India: Urea Imported Price Trend in India, Granular Fertilizer Grade CIF Kandla (Oman)

In Q3 2025, Granular fertilizer grade Urea price trend in India demonstrated a fluctuating yet overall firm price trend, primarily influenced by dynamics in the exporting market of Oman and shifting agricultural demand patterns.

The imported CIF Kandla prices were significantly impacted by movements in Oman’s FOB market, where Natural Gas costs, a key feedstock for Urea production, remained elevated during the early part of the quarter, tightening production economics and sustaining higher export offer levels.

Additionally, steady procurement activity from major Asian buyers and firm seasonal Agricultural Demand in India ahead of the kharif application cycle supported import volumes at relatively elevated levels.

Supply chain conditions were stable, with no major freight disruptions reported, allowing consistent cargo flows into Kandla. However, toward the end of the quarter, improved supply availability from Middle Eastern producers eased some pressure on import prices.

In September 2025, Granular fertilizer grade Urea prices in India decreased by 10% from the previous month, reflecting softening FOB Oman indications and moderated buying momentum, marking a quarterly increase of around 10% for Granular Fertilizer Grade CIF Kandla (Oman).

India: Urea Imported Price Trend in India, Automotive Grade Urea (AGU) CIF Nhava Sheva (China)

In Q3 2025, Automotive Grade Urea price trend in India reflected a firm yet fluctuating trajectory, primarily influenced by pricing dynamics in the Chinese export market and evolving import cost structures.

Higher FOB prices in China during the initial phase of the quarter supported elevated CIF import prices in India, as steady industrial demand for Automotive Grade Urea and consistent procurement activity sustained buying momentum.

However, rising freight csot and firm supplier offers contributed to increased landed costs. Toward the end of the quarter, easing export prices from China, driven by sufficient inventory levels and moderated demand, translated into softer import prices in India.

In September 2025, automotive grade Urea prices in India decreased by 6% from the previous month, due to lower Chinese FOB prices. Automotive grade urea price in India, marking a quarterly increase of ~15%, indicated stronger price levels during the early quarter despite the late-quarter correction.

India: Urea Domestic Price Trend in India, Technical Grade Urea (TGU) Ex-Vadodara

In Q3 2025, Technical Grade Urea price trend in India exhibited a firm yet fluctuating pattern, supported by steady downstream industrial demand and stable domestic production dynamics.

Adequate availability of feedstock Natural Gas ensured consistent operating rates across local manufacturing units, maintaining sufficient supply during the initial part of the quarter. Additionally, stable inventory levels and balanced supply-demand fundamentals contributed to price stability and supported upward momentum in domestic markets.

However, toward the latter part of the quarter, easing demand from end-use industries and competitive pricing pressure from imported material influenced a downward correction in domestic prices. Regional differences in procurement activity and cautious buying sentiment further weighed on price realizations.

In September 2025, Urea prices in India decreased from the previous month, decreasing by ~6%, reflecting softer demand conditions and improved supply availability. Overall, Urea price in India, marking a quarterly increase of ~14%, indicated stronger price levels during the early phase of the quarter despite the late-quarter correction.

India: Urea Domestic Price Trend in India, Automotive Grade Urea (AGU) Ex-Vadodara

In Q3 2025, Urea price trend in India demonstrated a firm yet moderating trajectory, supported by stable domestic supply conditions and consistent demand from the automotive sector during the early part of the quarter.

Adequate feedstock Natural Gas availability ensured uninterrupted production across domestic manufacturing facilities, maintaining sufficient inventory levels and supporting price stability. Additionally, steady procurement activity from downstream industries contributed to upward price momentum initially.

However, as the quarter progressed, easing demand fundamentals and competitive pressure from relatively lower-priced imports influenced market sentiment. Improved supply availability and cautious purchasing behavior across regions further contributed to price corrections toward the end of the quarter.

In September 2025, Automotive Grade Urea prices in India decreased by ~6 from the previous month, reflected softer demand and balanced supply conditions. Overall, Automotive Grade Urea price in India, marking a quarterly increase of 14%, indicated stronger pricing in the earlier months despite the late-quarter decline.

India: Urea Domestic Price Trend in India, Granular Fertilizer Grade Ex-Factory

In Q3 2025, Urea price trend in India remained largely stable, reflecting a balanced domestic market supported by regulated pricing mechanisms and steady supply-demand fundamentals.

Adequate availability of feedstock Natural Gas ensured consistent production levels across domestic plants, maintaining sufficient inventory and preventing any supply-side pressure. Additionally, stable agricultural demand during the quarter, aligned with seasonal consumption patterns, supported steady offtake without causing significant price volatility.

The domestic market was further characterized by controlled distribution and pricing policies, which limited fluctuations despite changes in global market dynamics.

In September 2025, Granular Fertilizer Grade Urea prices in India remained stable compared to the previous month, recording no change, reflecting balanced supply and steady demand conditions. Granular Fertilizer Grade Urea price in India, marking a quarterly stable trend of indicated a controlled pricing environment with minimal volatility.

Indonesia: Urea Exported Price Trend in Indonesia, Granular Fertilizer Grade FOB Tanjung Perak

In Q3 2025, Urea price trend in Indonesia exhibited a strong upward price trend during the initial two months of the quarter, supported by firm export demand from key Asian destinations and elevated Natural Gas costs that influenced domestic production economics.

As Indonesia is a significant exporter, FOB Tanjung Perak pricing reflected tightening regional supply conditions and active procurement from import-dependent markets amid peak agricultural application seasons.

International Trade & Logistics remained relatively stable; however, competitive bidding activity in Southeast Asia and South Asia contributed to firmer export offers, pushing prices upward through July and August. Toward the end of the quarter, improved cargo availability and moderated buying interest exerted downward pressure on spot offers.

In September 2025, Urea prices in Indonesia decreased by 7% compared to the previous month, reflecting easing export inquiries and balanced supply-demand fundamentals. Overall, Urea FOB price in Indonesia registering a quarterly increase of 15.87% for Granular Fertilizer Grade FOB Tanjung Perak.

Malaysia: Urea Exported Price Trend in Malaysia, Granular Fertilizer Grade FOB Port Kelang

In Q3 2025, Urea price trend in Malaysia followed a pronounced upward price trend during the first half of the quarter, underpinned by firm export demand from South and Southeast Asian markets amid active agricultural procurement cycles.

Elevated Natural Gas prices during the period increased upstream production costs for Malaysian producers, thereby strengthening FOB offer levels at Port Kelang.

Regional Differences in supply availability across Southeast Asia, coupled with steady nomination volumes from key importing countries, tightened spot availability and supported higher transaction values through July and August.

International Trade & Logistics conditions remained largely stable, enabling consistent export flows without significant freight disruptions. However, toward the end of the quarter, improved supply positioning and moderated buying interest from major destinations exerted downward pressure on export quotations.

In September 2025, Urea prices in Malaysia decreased by around 7% compared to the previous month, reflecting easing demand momentum and more balanced supply-demand fundamentals. Overall, Urea FOB price in Malaysia, registering a quarterly increase of around 17% for Granular Fertilizer Grade FOB Port Kelang.

Oman: Urea Exported Price Trend in Oman, Granular Fertilizer Grade FOB Sohar

In Q3 2025, Urea price trend in Oman exhibited a mixed but overall upward price trend during the early phase of the quarter, primarily driven by firm export demand from South Asia and East Africa and supported by stable to elevated Natural Gas input costs that sustained production economics.

As a key Middle Eastern exporter, FOB Sohar pricing reflected active international tenders and steady lifting schedules, which tightened prompt cargo availability during July and August. Regional Differences in supply, particularly balanced output across Gulf producers, contributed to competitive yet firm export offers.

International Trade & Logistics flows remained consistent, ensuring smooth cargo movements without notable supply chain disruptions. However, toward the latter part of the quarter, improved supply positioning and reduced spot buying interest exerted downward pressure on export quotations.

In September 2025, Urea prices in Oman decreased by around 11% compared to the previous month, reflecting softened demand momentum and easing tender activity. Overall, Urea FOB price in Oman in Q3 2025, marking a quarterly increase of around 8% for Granular Fertilizer Grade FOB Sohar.

Qatar: Urea Exported Price Trend in Qatar, Granular Fertilizer Grade FOB Mesaieed

In Q3 2025, Urea price trend in Qatar reflected a firm but fluctuating price trend, largely influenced by export-oriented supply-demand dynamics and feedstock cost structures. Elevated Natural Gas benchmarks during the early part of the quarter sustained production economics for Qatari producers, reinforcing FOB offer levels at Mesaieed.

Strong Agricultural Demand from South Asian importers and active international tenders supported cargo nominations in July and August, tightening prompt availability and driving upward price momentum.

Regional Differences in supply across key Middle Eastern exporting nations also contributed to competitive yet firm pricing structures. International Trade & Logistics operations remained stable, ensuring uninterrupted export flows without significant supply chain disruptions.

However, toward the close of the quarter, improved cargo availability and reduced spot buying interest led to corrective price adjustments.

In September 2025, Urea prices in Qatar decreased by around 12% compared to the previous month, reflecting softened procurement activity and easing export inquiries. Overall, FOB Mesaieed prices in Q3 2025, marking a quarterly increase of around 8% for Granular Fertilizer Grade FOB Mesaieed.

Russia: Urea Exported Price Trend in Russia, Granular Fertilizer Grade FOB Novorossiysk

In Q3 2025, Urea price trend in Russia demonstrated a firm upward price trend throughout the early part of the quarter, driven by tight domestic supply conditions and strong export demand across European and Middle Eastern markets.

Elevated Natural Gas prices, a critical feedstock for Urea production, contributed to higher production costs and strengthened FOB Novorossiysk offer levels. Regional Differences in supply availability, particularly constrained volumes from neighboring Eastern European producers, supported competitive pricing for prompt cargoes.

International Trade & Logistics remained largely stable, allowing uninterrupted export flows, while sustained Agricultural Demand in importing countries kept tender activity active and import inquiries robust. However, toward the end of the quarter, moderate buying interest and improved supply availability led to a downward adjustment in offers.

In September 2025, Urea prices in Russia decreased by around 12% compared to the previous month, reflecting easing demand momentum and corrective price action. Overall, Urea FOB price in Russia in Q3 2025, registering a quarterly increase of around 18% for Granular Fertilizer Grade.

Saudi Arabia: Urea Exported Price Trend in Saudi Arabia; Granular Fertilizer Grade FOB Jubail

In Q3 2025, Urea price trend in Saudi Arabia experienced a firm upward price trend during the early months of the quarter, largely driven by sustained export demand from key Asian and African markets and elevated Natural Gas prices, which maintained higher production costs for domestic manufacturers.

FOB Jubail pricing was further supported by limited regional supply availability and competitive international tender activity, which tightened prompt cargoes and bolstered offers.

International Trade & Logistics operations remained stable, allowing consistent shipment schedules, while strong Agricultural Demand in importing countries contributed to active procurement and upward momentum in offers. However, toward the end of the quarter, improved supply accessibility and moderated buying interest led to a downward adjustment in prices.

In September 2025, Urea prices in Saudi Arabia decreased by 12% from the previous month, reflecting easing demand and corrective market action. Overall, Urea FOB in Saudi Arabia in Q3 2025, marking a quarterly increase of around 8% for Granular Fertilizer Grade.

UAE: Urea Exported Price Trend in UAE; Granular Fertilizer Grade FOB Ruwais Port

In Q3 2025, Urea price trend in the UAE maintained a firm upward price trend during the early part of the quarter, supported by steady export demand across South and Southeast Asian markets and elevated Natural Gas prices that sustained production costs for domestic manufacturers.

FOB Ruwais Port pricing was further strengthened by limited regional supply availability and active international tenders, which tightened prompt cargoes and reinforced offer levels.

Regional Differences among Middle Eastern producers created competitive pricing pressures, while International Trade & Logistics remained stable, allowing consistent shipment schedules without notable disruptions.

Agricultural Demand in key importing countries also contributed to active procurement, underpinning early-quarter price momentum. Toward the end of the quarter, moderate buying interest and improved supply availability prompted corrective downward adjustments in offers.

In September 2025, Urea prices in the UAE decreased by 10.8% compared to the previous month, reflecting easing demand and softened tender activity. Overall, Urea FOB price in UAE registered a quarterly increase of around 8% for Granular Fertilizer Grade.

In Q2 2025, the global Urea market exhibited a mixed price trend, with regional disparities driven by shifting demand patterns and supply dynamics. In the Asia Pacific region, comprising China, India, Indonesia, and Malaysia, the price trend remained uneven.

China recorded a strong upward momentum in FOB Shanghai prices, marking a significant quarterly increase, supported by firm domestic demand and controlled supply, while Technical Grade Urea and Automotive Grade Urea showed modest to mixed quarterly movements.

In contrast, India’s CIF markets at Kandla and Nhava Sheva experienced slight declines due to softer import prices influenced by relatively stable-to-lower FOB benchmarks in the exporting countries, although June 2025 witnessed a price trend increasing across several grades.

Indonesia and Malaysia showed marginal quarterly declines despite a positive price trend in June 2025, supported by improved regional demand.

In the Middle East, including Saudi Arabia, Oman, Qatar, and the UAE, the price trend remained largely stable to slightly positive on a quarterly basis, though June 2025 reflected a consistent decreasing trend due to steady supply availability and competitive export pricing.

In Europe and North America, market sentiment remained balanced with limited volatility, while South America followed a stable-to-soft trajectory aligned with global supply sufficiency. Overall, the global Urea market reflected a balanced yet regionally divergent price trend during the quarter.

India

According to the Price Watch, during Q2 2025, Urea prices in India demonstrated a mixed and largely stable-to-soft price trend across both import and domestic markets, influenced by balanced supply availability and moderate downstream demand.

In the import segment, Granular Fertilizer Grade Urea CIF Kandla (Saudi Arabia) reflected a slight quarterly decline due to relatively stable-to-lower FOB benchmarks in Saudi Arabia and sufficient global supply.

Additionally, steady freight conditions and adequate inventory levels in the domestic market limited upward pressure, while in June 2025, the price trend decreased by ~6% compared to the previous month.

In the domestic market, Technical Grade Urea (TGU) and Automotive Grade Urea (AGU) Ex-Vadodara prices experienced marginal quarterly declines due to stable production levels supported by consistent Natural Gas availability and controlled demand from the automotive and industrial sectors.

However, in June 2025, both segments recorded a price trend increased by ~6% and ~5%, respectively, amid improved offtakes. Meanwhile, Granular Fertilizer Grade Urea Ex-Factory prices remained stable throughout the quarter due to subsidized.

Urea prices showed a marginal 1% quarter‑on‑quarter increase in Q2 2025, reflecting a volatile global supply backdrop and geopolitical disruptions in the Middle East. Escalating tensions between the US and Iran raised concerns over urea export flows from key producers like Qatar and Iran, which together account for a significant share of India’s imports.

Indian tenders remained sporadic but strategically timed to capture lower values in early June before the sharp rally triggered by Nola barge price spikes. Tightening global supply and fears of logistical constraints through the Strait of Hormuz supported late‑quarter firmness. Buyers focused on securing cargoes ahead of the kharif season. According to PriceWatch, Urea prices ended Q2 2025 at USD 445/MT CFR JNPT.

In Q1 2025, the global Urea market exhibited a generally upward price trend, supported by firm demand fundamentals and constrained supply across key exporting regions, although a correction was observed toward the end of the quarter. In the Asia Pacific region, including China, India, Indonesia, and Malaysia, the price trend remained mixed.

China’s FOB Shanghai prices recorded a slight quarterly decline; however, March 2025 showed a price trend increased by ~11%, indicating late-quarter recovery driven by improved export interest. India’s import markets at Kandla reflected strong gains due to higher FOB prices in Oman and Saudi Arabia, though March 2025 registered a price trend decreased by ~7% and ~9%, respectively, due to easing buying activity.

Southeast Asian markets such as Indonesia and Malaysia maintained a positive quarterly trend, supported by steady agricultural demand, despite March declines.

In the Middle East, comprising Saudi Arabia, Oman, Qatar, and the UAE, the price trend remained strongly bullish during the quarter due to tight supply and firm export demand, although March 2025 saw prices decreasing across all major FOB hubs.

In Europe and North America, the market maintained stable-to-firm sentiments with balanced supply-demand conditions, while South America followed a similar upward trajectory aligned with import dependency. Overall, the global Urea market reflected strong quarterly gains with a late-quarter correction in March 2025.

India

According to the Price Watch, during Q1 2025, Urea prices in India exhibited a firm yet fluctuating price trend across both import and domestic markets, primarily influenced by elevated international benchmarks and evolving downstream demand dynamics.

In the import segment, Granular Fertilizer Grade Urea CIF Kandla (Oman) recorded a strong quarterly increase, driven by higher FOB prices in Oman amid tightening global supply and active procurement by Indian buyers; however, in March 2025, the price trend decreased by ~7% as buying activity slowed and inventories normalized.

Similarly, Technical Grade Urea (TGU) CIF Nhava Sheva (China) prices followed an upward trajectory due to steady industrial demand and firm Chinese export pricing, with March 2025 reflecting a price trend increased by ~3%. In contrast, Automotive Grade Urea (AGU) CIF Nhava Sheva showed a more moderated quarterly increase, with March 2025 witnessing a price trend decreased by ~4% due to softer automotive sector demand.

On the domestic front, Ex-Vadodara TGU prices experienced a price trend increased by ~3% in March 2025 supported by improved industrial offtake, while AGU prices declined by ~4% due to demand-side adjustments. Overall, the Indian Urea market reflected a combination of strong import cost pressures and mixed downstream consumption patterns during the quarter.

In Q1 2025, Urea prices from Saudi Arabia increased to USD 440/MT CFR JNPT, marking a sharp rise from Q4 2024. This sharp uptick has been primarily driven by persistent demand from the Indian sub-continent amidst upcoming kharif season and thus hefty procurement from fertilizer producers. Additionally, elevated natural gas prices urea’s main production cost continue to exert upward pressure on manufacturing expenses.

Demand also remained firm due to strategic procurement by import-dependent countries like India, further supporting prices. Overall, Urea price increase reflected a confluence of supply constraints, energy market volatility, and strong seasonal demand in major agricultural markets.

Urea Price Trend Analysis: Q4 2024

Urea prices declined again in the last quarter of 2024, as expected, due to deteriorating demand. In the Middle East, prices dropped from USD 375/MT in October to USD 352/MT in December 2024, while in Egypt, prices fell from USD 377/MT in October to USD 355/MT by November, before rebounding in December.

Supply remained robust, with increased availability from Iran and Russia, while post-harvest demand weakened significantly. Many buyers deferred new purchases, anticipating clearer market direction from Q1 2025 tenders. Market analysts noted that persistent oversupply and cautious procurement behavior contributed to the price downturn, despite a late-year price correction in some regions.

During Q4 2024, Urea prices edged up to USD 403 USD/MT CFR Paradip (from Saudi Arabia), marking a notable increase of more than 5% from Q3 2024. This slight uptick can be attributed to a combination of factors: stable to slightly higher production costs primarily due to natural gas price fluctuations, which significantly impact urea manufacturing expenses and persistent, if moderate, international demand.

Despite a broader global trend of declining urea prices amid oversupply and weak demand in major markets, localized supply chain disruptions, freight cost variations, and steady industrial demand in regions like India contributed to this small but notable price rise.

Urea prices rebounded modestly in the third quarter of 2024, with prices in the Middle East (FOB Ras-al-Khair) remaining steady at USD 342/MT from July to September but peaking at USD 345/MT in August. Market support came from tightened supply due to shipping restrictions and a slight uptick in demand from East Africa.

Market participants highlighted interruptions in the Suez route, which impacted logistics and contributed to supply bottlenecks. Additionally, increased spot interest from Thailand and Vietnam reflected regional demand recovery. These factors, combined with logistical challenges, helped stabilize prices and limit further declines during the quarter.

During Q3 2024, CFR JNPT (from Saudi Arabia) Urea prices rose to USD 367 USD/MT, a 2% increase from Q2 2024. This slight uptick reflects stable but firm demand, likely supported by steady international purchases and effective inventory management in Saudi Arabia, despite variable supply and fluctuating freight costs.

The modest price rise also suggests that supply disruptions and logistical issues were balanced by robust industrial demand, preventing significant price drops. Additionally, while some regions saw declining urea prices due to weak demand and lower feedstock costs, the Middle East maintained relative price stability, helping to support the minor upward movement at JNPT.

Urea prices softened under oversupply pressure in the first half of Q2 2024, but the market witnessed a significant recovery in the second half as procurement activity improved. In China, urea prices increased from USD 297/MT in April to USD 368/MT in June, with a temporary low of USD 332/MT in May.

FOB Oman prices also improved, rising from USD 312/MT to USD 337/MT. China ramped up exports ahead of tightening environmental audits, while demand from South Asia remained subdued. High inventory levels in Brazil and Indonesia slowed spot buying, especially in East Africa and Southeast Asia, leading to mixed market conditions throughout the quarter.

During Q2 2024, Urea prices for the imported material from Saudi Arabia fell to USD 361 USD/MT , CFR Paradip, marking a marginal decrease from Q1 2024. This slight decline can be attributed to several factors: reduced demand in key fertilizer markets, lower costs of the main raw material ammonia, and increased supply from major producers.

Additionally, delays in large Indian urea tenders and subdued buying activity globally have contributed to downward prices. The overall market sentiment remained bearish, with supply outpacing demand and producers adjusting prices to remain competitive in a softening market environment.

Urea prices were volatile in the first quarter of 2024, with notable fluctuations across major markets. In the Middle East, Urea prices rose from USD 335/MT in January to USD 351/MT in February before easing to USD 330/MT in March. In Egypt, prices increased from USD 332/MT to USD 406/MT in February, then softened to USD 378/MT.

These shifts were influenced by delayed tenders in India, short-term spot buying from Latin America, and tight port logistics in the Red Sea region. Market participants observed significant week-to-week pricing swings, reflecting ongoing supply chain uncertainties and shifting demand patterns in key importing and exporting regions.

During Q1 2024, Urea prices fell to USD 362 USD/MT CFR JNPT (from Saudi Arabia), marking a slight decrease from Q4 2023. This marginal decline can be explained by a combination of steady global supply and subdued demand in key importing regions, such as India and China, which kept prices under pressure.

Additionally, lower production costs due to decreased feedstock prices and expectations of eased export restrictions contributed to the downward trend. Despite minor logistical disruptions, robust inventory management and balanced industrial demand helped prevent a steeper price drop, resulting in overall market stability.

Technical Specifications of Urea Price Trends

Urea Industrial Applications

Urea is primarily used as a nitrogen-rich fertilizer in agriculture, supporting plant growth by releasing ammonium and nitrate ions into the soil. It also serves as a raw material for producing urea-formaldehyde resins, adhesives, and plastics. In medicine, urea is found in dermatological creams for hydration and nail debridement. Other applications include de-icing roads, reducing NOx emissions in diesel engines, enriching animal feed, serving as a flame retardant, and improving textile processing. Urea is also used in soaps, hair removal products, and laboratory protein studies.

Historically, several events have caused significant fluctuations in Urea prices

  • China’s Export Restrictions (2021–2022):  China tightened urea export controls in late 2021 to meet domestic needs. This reduction in global supply pushed international urea prices higher during this period.
    These events underscore the Urea market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
  • Russia-Ukraine Conflict (2022): The Russia-Ukraine war disrupted fertilizer exports from Russia and drove up natural gas prices, a key urea feedstock. Sanctions and trade restrictions resulted in global urea shortages and record-high prices in 2022.
  • New Urea Policy (NUP-2015) in India: The Indian government introduced NUP-2015 to boost local urea production and control costs. However, delayed subsidy payments and continued import reliance led to ongoing price fluctuations in India’s urea market.

Why Price Watch™?

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In addition, Price Watch™ provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With Price Watch™, you gain a competitive edge in understanding all the elements that influence urea prices worldwide. Stay ahead of the curve with Price Watch’s™ reliable, accurate, and timely urea market data.

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Urea Market Price Trend published by 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ reflect prevailing spot market conditions, derived from independent research, verified trade inputs, and proprietary market intelligence as of the publication date. Prices are published on the specified Incoterm and represent indicative base market levels, exclusive of applicable taxes, VAT, duties, tariffs, and other statutory charges. Actual transaction values may vary depending on volume, credit terms, contractual structure, and other negotiated conditions. Market prices are inherently subject to volatility, liquidity dynamics, regulatory changes, and evolving trade activity. The information provided is for reference and benchmarking purposes only and does not constitute an offer, recommendation, or guarantee of transactional outcomes. Users should exercise independent commercial judgment and assess their specific contractual, regulatory, tax, and application requirements before making business decisions. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ assumes no liability for decisions taken based on this information.

Key factors influencing global urea prices include raw material costs especially natural gas, which accounts for 60–80% of production expenses and fluctuations in energy prices. Supply chain disruptions, geopolitical events, and regulatory or environmental policy changes also play significant roles.

Technological advancements in fertilizer management and shifting agricultural practices further impact pricing. Additionally, global demand from major agricultural producers, along with seasonal planting cycles, drives volatility and influences market trends, making urea prices highly responsive to both supply and demand dynamics.

Urea availability directly shapes pricing trends: when supply is tight due to production outages, logistics disruptions, or export restrictions, prices tend to rise as demand outstrips supply. Conversely, ample inventories or reduced demand often from weather impacts or shifts to alternative fertilizers can lead to price declines. Market volatility is further influenced by seasonal agricultural cycles, with planting seasons typically driving up prices if supply is constrained.

Urea prices vary regionally due to differences in raw material costs, supply-demand balances, government policies, and logistics expenses. For example, China’s urea prices dropped in 2025 due to oversupply and export restrictions, while Southeast Asia and India saw price increases from strong demand and regional supply disruptions. These variations compel procurement managers to prioritize reliable suppliers, consider logistics costs, and adjust purchasing timing based on regional price trends and potential supply chain risks for cost-effective sourcing.

Urea is a white, crystalline organic compound with the chemical formula CO(NH₂)₂, containing 46% nitrogen by weight. It serves primarily as the world’s most common nitrogen fertilizer, breaking down in soil to release ammonium ions essential for plant growth. Urea prices directly impact global food security, as they influence fertilizer costs for farmers, affecting crop production and food prices worldwide. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ tracks Urea prices to help businesses stay informed about market movements and cost trends.

Urea prices vary by Prices vary by origin, basis (FOB/CIF), and date. Prices are usually quoted per metric ton and fluctuate based on supply-demand balance and feedstock costs. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ provides up-to-date price assessments across key global markets.

Urea prices are influenced by feedstock costs, operating rates, Agricultural demand, export-import flows, and logistics conditions. Seasonal demand, capacity additions, and regional trade dynamics also play a role. Recent trends indicate mixed movements depending on demand recovery and feedstock price direction.

Agriculture consumes the vast majority of urea, accounting for 70% of global demand as the top nitrogen fertilizer for crops worldwide. The chemical industrial applications ranks second at about 15%, using it for resins, adhesives, and plastics etc.

Urea fertilizer is produced industrially through a high-pressure synthesis process using ammonia and carbon dioxide as raw materials. This method yields solid prills or granules optimized for agricultural use.

China Russia, Qatar, Saudi Arabia, Egypt are the major exporter of Urea. Export volumes vary based on capacity utilization, domestic demand, and pricing competitiveness. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ monitors global trade flows and supply availability.

Global urea production capacity significantly exceeds demand, creating a surplus that supports ample supply. However, regional shortages, trade restrictions, and geopolitical factors can tighten markets locally. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ closely tracks supply-demand balances to highlight potential shortages or oversupply situations.

Different grades of Urea include Technical Grade, Industrial Grade, Fertilizer Grade, Urea is graded primarily by purity, particle form, and intended use. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ provides grade-wise price assessments for better market clarity.

Sudden increase in urea demand trigger sharp price spikes, supply shortages, and rushed imports. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ captures these shifts in real time.

Natural gas prices affect urea production costs, as gas serves as the primary feedstock and energy source, comprising 70-90% of variable expenses 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ analyses Urea price correlations to explain cost movements.

Regional urea price differences arise from production costs including natural gas prices supply-demand imbalances, logistics, and local policies. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ tracks regional differentials to highlight pricing gaps across markets.

Urea price outlook depends on feedstock trends, agriculture demand, capacity expansions, government policies like Export restrictions, subsidies, import tenders, freight cost, and global economic conditions. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ publishes regular forecasts projecting price direction over the next 12 months.

Yes. Reliable forecasts help buyers plan procurement, manage inventory, negotiate contracts, and control packaging costs. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ forecasts support smarter purchasing and budgeting decisions.

Events such as energy crisis & natural gas prices, war/sanctions, agricultural demand & food crises, climate & natural disasters, trade policy changes and export bans, shipping disruptions, or geopolitical tensions can affect Urea supply, production rates, and export flows, leading to price fluctuations. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ provides timely updates on such market-moving events.

𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜h™ gathers data from producers, converters, traders, and buyers to publish transparent Urea price assessments, market reports, and forecasts, helping stakeholders stay ahead of market trends.

Access Real-Time Urea Price Trends
Access Real-Time Urea Price Trends