Indonesia has approved urea export licenses for 2026.

Indonesian government has approved 140,000 tons of urea export licenses, allocated to subsidiaries of state-owned fertilizer company Pupuk, with Kaltim expected to enter the market first. Southeast Asian supply remains constrained due to limited export approvals, forcing Malaysia’s Petronas to rely on Brunei’s BFI for granular urea spot supply. FOB prices rose to $410\text{–}$ 425/ton this week, driven by India’s tender activity and a stronger U.S. market. Indonesia exported approximately 1.5 million tons of urea in 2024.