India's urea inventories dropped by 2.24 million t on the month in December 2025, marking the second-highest month-on-month fall on record after domestic urea sales hit an all-time high of 5.76 million t, Indian government data showed.
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.