India’s FACT issues ammonia tender as prices rise

29 February 2008 12:35  [Source: ICIS news]

LONDON (ICIS news)--Indian producer Fertilizers and Chemicals Travancore Limited (FACT) has issued a tender for 15,000 tonnes of ammonia amid rising prices, fertilizer trader sources said on Friday.

The tender closes on 10 March and calls for one 7,500 tonne lot to be delivered to Cochin in Kerala on 21-25 March and a second 7,500 tonne lot to be delivered 16-20 April.

Offers are to remain valid until 15 March.

The market had been widely expecting FACT to issue an enquiry, although some had thought the buyer might hold out for some time given the current price levels.

FACT last purchased ammonia in January from trader Trammo at $440/tonne (€290/tonne) CFR (cost and freight).

However, due to rising prices in the Middle East, recent prices agreed in India for contract deliveries have been in the $520s/tonne CFR and are expected to rise further.

($1 = €0.66)

By: Rebecca Clarke
+44 20 8652 3214

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