India, one of the world's largest urea importers, received offers for the soil nutrient that were 12% below the June purchase price, signaling easing war-driven tightness in the global fertilizer market.

State-run producer Rashtriya Chemicals & Fertilizers Ltd., which imports urea on behalf of the government, received offers for about 3.1 million tons against a 1 million-ton tender for the west coast, with prices between $393.65 and $435 a ton, according to people familiar with the matter.

The significant oversubscription and lower pricing indicate that supply constraints linked to the ongoing conflict have begun to relieve, providing relief to major importing nations dependent on affordable fertilizers for agricultural production.

This development reflects broader market stabilization as global supply chains recover and geopolitical tensions ease their impact on essential commodity markets.