IFFCO buys DAP $20/tonne on last business

27 August 2008 16:25  [Source: ICIS news]

LONDON (ICIS news)--The Indian Farmers’ Fertilizer Cooperative (IFFCO) has bought a cargo of phosphate fertilizer at prices down $20/tonne on last business, as freight rates fall and demand elsewhere remained lacklustre, Indian sources said on Wednesday.

In the latest business, IFFCO bought 30,000-35,000 tonnes of diammonium phosphate (DAP) from US-based trader company Gavilon at $1,240/tonne CFR, down by $20/tonne on last reported business at $1,260/tonne CFR.

No-one at IFFCO was available to confirm the deal, but Gavilon “did not deny it,” sources close to the company said. 

The cargo was for September shipment to Vizag in Andhra Pradesh. Origin was open.

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By: Mike Nash
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