N Africa phosacid producers consolidate India price

16 April 2008 15:57  [Source: ICIS news]

LONDON (ICIS news)--North African phosphoric acid producers have secured further contracts in India at substantially higher prices on last year, trader sources said on Wednesday.

 

Following initial contracts for April-June completed at $1,985/tonne (€1,251/tonne) CFR (cost, insurance and freight) - a more than three-fold increase on the yearly contract for 2007-08 agreed at $566.25/tonne CFR - further contracts were agreed this week totalling 800,000 tonnes.

 

Mangalore Chemicals & Fertilizers Limited (MCFL) bought 400,000 tonnes from Moroccan supplier Office Cherifien des Phosphate (OCP).

 

Coromandel agreed 200,000 tonnes from Groupe Chimique Tunisien (GCT) while the Indian Farmers’ Fertilizer Cooperative (IFFCO) bought 200,000 tonnes from the US Phosphate Chemicals Export Association.

 

The volumes quoted were for yearly requirements although prices were valid for April-June shipment with contract prices renegotiated every quarter. 

 

($1 = €0.63)

By: Mike Nash
+44 20 8652 3214

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