19 August 2009 17:08 [Source: ICIS news]
LONDON (ICIS news)--Indian fertilizer cooperative company Krishak Bharati Cooperative Limited (Kribhco) has scrapped its 17 August tender for 190,000 tonnes of diammonium phosphate (DAP), citing offer prices as too high, fertilizer sources in the country said on Wednesday.
The company had received offers ranging from $385-405/tonne (€273-288/tonne) CFR (cost and freight) from a variety of traders and suppliers.
However, sources said they understood that Kribhco had deemed that prices were around $20-30/tonne higher than the calculated August import formula price on which the Indian government would pay subsidy.
It was not known whether a new tender would be issued.
($1 = €0.71)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections