IFFCO buys DAP at $1,270/tonne in latest tender

02 July 2008 15:56  [Source: ICIS news]

LONDON (ICIS news)--The Indian Farmers’ Fertilizer Cooperative (IFFCO) has awarded its diammonium phosphate (DAP) tender at $1,270/tonne - broadly in line with previous business, trader sources confirmed on Wednesday.

Under the tender, which closed on 27 June, IFFCO bought two or three 35,000-40,000 tonne cargoes of US DAP from trader company Keytrade at $1,270/tonne (€800/tonne) CFR (cost and freight).

It additionally bought two 30,000-35,000 tonnes from Kisan, its offshore trading arm at $1,270/tonne CFR.

A further three 25,000-30,000 tonnes of Russian DAP were purchased from Ameropa for July-September shipment.

Trader company ConAgra offered DAP at $1,320/tonne CFR and US-based Phosphate Chemicals Export Association (PhosChem) two panamaxes above $1,300/tonne CFR but no business ensued.

Offers from Trammo and Dreymoor could not be verified at press time.

($1 = €0.63)

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By: Mike Nash
+44 20 8652 3214

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