India’s MMTC may buy DAP fertilizer

27 September 2007 20:04  [Source: ICIS news]

LONDON (ICIS news)--India’s largest public sector enterprise company MMTC has received two offers under its tender that closed on 24 September for diammonium phosphate (DAP) fertilizer, traders said on Thursday.

Offers were not formally opened by MMTC but it was understood that US export organisation Phosphate Chemicals Export Association (PhosChem) offered two cargoes at $510-520/tonne (€362-369/tonne) CFR (cost and freight) for shipment by 20 November.

Fertilizer trader company Transammonia offered Chinese and Australian DAP at around the same level, with Australian material thought to be cheaper.

MMTC asked for offers to be extended, probably in order to gain approval from the Indian government to pay above $495/tonne CFR, the previous ceiling price set by Indian Potash Limited, which had bought around 2m tonnes of imported phosphate fertilizers so far in 2007.

($1 = €0.71)

By: Mike Nash
+44 20 8652 3214

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