The Indian government has entered into a back-to-back agreement with OQ Trading for urea supplies from OMIFCO under a long-term agreement. The agreement came into effect on 1 August 2026 and will remain valid until 20 February 2031. Under the arrangement, OQ Trading will purchase OMIFCO’s urea export volumes and supply about 50% of them, or around 1 million t of urea annually, to the Indian government. India-bound urea volumes will reportedly be priced based on India-specific benchmarks. Reminder: the previous long-term agreement for OMIFCO’s urea supplies to the Indian government ran from February 2022 to January 2025.
