Urea production declines.. Will rates increase?
Companies are reducing urea production in India as LNG production in Qatar has stopped due to the war in the Middle East. LNG is the primary feedstock for urea production. It is not only an energy source but also a key input in the fertilizer manufacturing process. If there is a shortage of urea, there is a possibility that the rates will skyrocket. However, a senior official from the Fertilizer Ministry said that the situation is under control.
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