India’s PPL signs long-term sulphur deal with ICEC

28 September 2007 11:25  [Source: ICIS news]

LONDON (ICIS news)--India’s Paradeep Phosphates Ltd (PPL) has signed a new long-term sulphur supply agreement with trader ICEC, a company official said on Friday.

 

ICEC has agreed to supply PPL with 150,000 tonnes of sulphur for January-December 2008. Pricing will be agreed on a quarterly basis.

 

PPL had previously been a buyer on the spot market but tight supply and record high prices this year had encouraged the company to secure a long term sulphur supply.

 

PPL’s annual sulphur requirement is 300,000 tonnes. The company is in talks with other suppliers, understood to be Swiss Singapore, Transfert and Mitsubishi for its outstanding needs.

 

Indian sulphur prices are currently at $235-240/tonne CFR (cost and freight), up from $68-76/tonne CFR at the start of this year.

 

The move by PPL follows similar long-term agreements between Indian Farmers Fertilizer Cooperative (IFFCO) and traders ICEC, Transfert and Swiss Singapore earlier this year.

 

 

 

By: Rebecca Clarke
+44 20 8652 3214

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