Kribhco DAP tender offers up $20/tonne on last Asia business

18 August 2009 12:41  [Source: ICIS news]

LONDON (ICIS news)--Indian fertilizer cooperative company Krishak Bharati Cooperative Limited (Kribhco) has received offers around $20/tonne (€14/tonne) higher than last spot business done in Asia under its diammonium phosphate (DAP) fertilizer tender, trader sources in India said on Tuesday.

The highest offers, at $405/tonne CFR (cost and freight) were a significant increase on the $380/tonne CFR achieved in Pakistan earlier in August, as firming demand and tight supply globally combined to push up prices. 

Kribhco’s tender, which closed on 17 August for 190,000 tonnes, received numerous offers from international traders and Chinese producers.

The most competitive offers came from Chinese producer Wengfu, which offered 25,000 tonnes of DAP at $385/tonne CFR for September shipment. Wengfu would ship to the Indian ports of Tuticorin or Vizag.

This was followed by another Chinese producer, Kailin, which also offered 25,000 tonnes at $385/tonne CFR for September shipment, plus another 25,000 tonne lot at $390/tonne CFR for October shipment. Kailin would ship to Vizag or Tuticorin in September and Vizag in October.

Trader company Swiss Singapore, backed by Chinese DAP from producer Yuntianhua, offered 30,000 tonnes of DAP at 390/tonne CFR for 15-20 October shipment. Swiss Singapore would ship to Vizag.

Another trader company, Dreymoor, offered two 30,000 tonne open origin cargoes at $390/tonne CFR for September-October shipment. Dreymoor would ship to Tuticorin in September and Vizag in October.

Trader company Transammonia also offered open origin material. It offered one 30,000 tonne parcel or two 25,000 tonne cargoes at $399.50/tonne CFR for 15-30 September shipment. It also offered one 50,000 tonne parcel at $395/tonne CFR also for 15-30 September shipment.

Trammo additionally offered one 30,000 tonne lot or two 25,000 tonne cargoes at $405/tonne CFR for October shipment and one 50,000 tonne lot at $400/tonne CFR also for October shipment. Trammo would ship all cargoes to Mundra.

($1 = €0.71)

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By: Mike Nash
+44 20 8652 3214

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