PhosChem increases sales of DAP to India

20 July 2009 16:40  [Source: ICIS news]

HOUSTON (ICIS news)--North American marketing consortium Phosphate Chemicals Export Association (PhosChem) increased the 2009 sale of diammonium phosphate (DAP) to Indian customers by 500,000 tonnes, the group said on Monday.

The volume will be increased to 1.75m tonnes, PhosChem said.

Under the terms of the original contract, the price was to be indexed to market pricing. Shipments for the increased tonnage will occur between August and October.

The price for bulk DAP as of 17 July was in a range of $290-295/tonne (€206-209/tonne) US Gulf FOB, according to global chemical market intelligence service ICIS pricing.

"This sale demonstrates that demand is rebounding in global markets," PhosChem president Steve Paxton said.

PhosChem is the largest exporter of concentrated phosphate from North America.

Its member companies include Mosaic Crop Nutrition and PCS Sales, a subsidiary of Potash Corporation of Saskatchewan.

($1 = €0.71)

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