06 October 2008 12:03 [Source: ICIS news]
LONDON (ICIS news)--The Indian Farmers’ Fertilizer Cooperative (IFFCO) has bought up to 235,000 tonnes of imported diammonium phosphate (DAP) fertilizer, sources at the company said on Monday.?xml:namespace>
IFFCO confirmed buying 45,000-55,000 tonnes from US-based Phosphate Chemicals Export Association (PhosChem) plus as many as six 30,000 tonne Russian cargoes from traders Ameropa and Helm at $1,068-1,072/tonne CFR.
It had earlier been reported that Ameropa and Helm had sold at $975/tonne CFR (cost and freight) but IFFCO denied buying at this price.
However, it was understood that such a low DAP import price would have adversely affected the amount of subsidy given to domestic DAP producers under the government’s import parity scheme.
Nevertheless, it had not been confirmed whether any other Indian importers had bought at this level.
The source confirmed that IFFCO needed the DAP promptly, stipulating that cargoes had to arrive by 21 November at the latest for application during the current rabi season.
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