03 April 2008 10:29 [Source: ICIS news]
LONDON (ICIS news)--Indian phosphate fertilizer producers’ provisional agreement with Morocco's Office Cherifien des Phosphates (OCP) for phosphoric acid contracts is for three months rather than the usual yearly contracts, Indian trader sources said on Thursday.
The deal for April-July shipments was concluded at $1,985/tonne (€1,270/tonne) CFR (cost, insurance and freight) with 30 days’ credit, up more than $1,400/tonne on 2007-2008 levels of $566.25/tonne CFR.
It was understood that the shorter contract length reflected the continually higher sulphur feedstock costs faced by OCP and the producer’s consequent reluctance to lock itself into a long-term deal.
($1 = €0.64)
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