09 January 2008 15:49 [Source: ICIS news]
LONDON (ICIS news)--Indian fertilizer producers have expressed concern over 2008-2009 phosphoric acid feedstock contract prices being touted by North African producers, trader sources said on Wednesday.
North African producers recently sold phosphoric acid into Latin America and Europe at $1,430-1,450/tonne (€972-986/tonne) P2O5 (nutrient content) CFR (cost, insurance and freight). This represented more than a doubling of the fourth quarter price level of $605-615/tonne CFR.
Producers cited increased costs of feedstocks for phosphoric acid, including phosphate rock and sulphuric acid, plus the high prices of finished fertilizer, as justification for the increase.
One Indian trader described suppliers as “arrogant,” and expressed considerable concern as to whether
Negotiations for new contracts may be brought forward to the second-half of January rather than in March/April as is usual, the trader added.
Existing contract shipments from
This came at a time when pre-budget consultations were being conducted to ascertain the level of subidy available for the next fiscal year.
($1 = €0.68)
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