Initial Q4 India phosacid agreed $400/tonne lower

19 September 2008 16:28  [Source: ICIS news]

LONDON (ICIS news)--Indian buyers are reported to have agreed fourth-quarter phosphoric acid prices down $400/tonne from the third quarter on lower sulphur feedstock costs and finished phosphate fertilizer prices, traders said on Friday.

Groupe Chimique Tunisien (GCT) agreed a price of $1,920/tonne P2O5 (nutrient content) CFR (cost and freight) with Coromandel Fertilizers Limited (CFL) and Gujarat State Fertilizers & Chemicals Limited (GSFC) for fourth-quarter shipments of phosphoric acid.

This was nearly $400/tonne lower than the third-quarter price agreed between phosphoric acid suppliers and some Indian buyers of $2,310/tonne CFR

This reflected the $200/tonne drop in imported diammonium phosphate (DAP) prices in India during the third quarter and lower sulphur feedstock costs faced by North African producers.  

The Indian Farmers’ Fertilizer Cooperative (IFFCO) was reported to have agreed the same price level with Industries Chimiques du Senegal (ICS) and CFL with South African supplier Foskor.

A delegation from the other main North African producer, Morocco's Office Cherifiens des Phosphates (OCP), was expected in India on 23 September to discuss further contracts.

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By: Mike Nash
+44 20 8652 3214

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