Morocco's OCP agrees India Q4 acid down $400/t

14 October 2008 11:42  [Source: ICIS news]

LONDON (ICIS news)--Moroccan phosphoric acid producer Office Cherifien des Phosphates (OCP) has agreed fourth-quarter contracts with Indian buyers $400/tonne on the third quarter, reflecting lower sulphur feedstock costs, Indian sources confirmed on Tuesday.

The new price, $1,920/tonne P2O5 (nutrient content) CFR (cost and freight) was down by 17% on the third-quarter price at $2,310/tonne P2O5 CFR.

OCP sources were not available to confirm the deal.

However, the settlement was widely expected within the industry and came as no surprise, said sources, given that OCP had already agreed this price with Fertilizers & Chemicals Travancore (FACT), while Tunisian producers had settled at the same level.

The deal with Zuari, Paradeep Phosphates Ltd (PPL) and Tata Chemicals afforded these domestic phosphate producers a healthy margin, traders added.

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By: Mike Nash
+44 20 8652 3214

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