The latest sales data was in line with provisional figures released in early January 2026. Higher sales outweighed production of 2.69 million t and imports of 826 000 t, resulting in a 2.24 million t reduction in urea stocks – the highest drawdown since July 2020. Stocks ended the year at 5.3 million t, down from 6.3 million t in mid-December and 7.1 million t at the start of the month, according to Argus Media’s estimations.
India's cumulative urea sales rose by nearly 1.2 million t on the year to 31.2 million t in April-December, as increased crop acreage and a shortage of DAP boosted urea demand. Imports also boomed in 2025, rising to 8 million t in April-December from 4.3 million t in 2024, as importers scrambled to secure enough product to meet higher domestic demand. Indian importers collectively issued six tenders across June-November and finalised another earlier this month. Local Indian urea production fell to 22.4 million t in April-December from 23.2 million t a year earlier.
Read the original article by Harry Minihan on Argus Media.
