India opposes possible phosphate hikes

21 May 2008 17:07  [Source: ICIS news]

VIENNA (ICIS news)--India will not accept a further price increase for phosphoric acid from the current $1,985/tonne level P205, said a government representative on Wednesday.

 

Prices are already too high and a further increase could compress demand and put food security at risk, the spokesman told ICIS news on the sidelines of the International Fertilizer Industry Association conference.

 

However, a North African phosphate producer said sellers had no choice but to pass on their increased costs as a result of higher raw materials values, adding “we cannot subsidise sulphur producers”.  

 

North African, Senegalese and other phosphate producers are currently pressing for further increases, with an initial indication for third-quarter prices reported at $2,400/tonne P205.

 

The conference runs from 19-21 May.

 

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By: Antonella Harrison
+44 20 8652 3214

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