Indian DAP buyers secure close to 5m tonnes

24 March 2010 18:09  [Source: ICIS news]

LONDON (ICIS news) – Indian phosphate fertilizer importers are thought to have secured close to 5m tonnes of diammonium phosphate (DAP) under contract, fulfilling a substantial amount of the country’s 2010-11 import need, fertilizer sources said on Wednesday.

Indian buyers have agreed to purchase 300,000 tonnes of Chinese DAP from trader company Helm at $495/tonne CFR, plus another 90,000 tonnes - also of Chinese origin - at around the same price from trader Agor, according to the sources.

A further 350,000 tonnes of CF Industries’ DAP from the US was sold by trader Keytrade at $500/tonne CFR, they added.

Previously, Indian buyers had already secured 2m tonnes from Phosphate Chemicals Export Association (PhosChem) at a fixed price of $500/tonne CFR (cost and freight), plus 1m tonnes from Russian producer PhosAgro.

Meanwhile, Jordan Phosphate Mines Company (JPMC) was expected to finalise a deal for 500,000 tonnes of DAP at a fixed price early next week, while Moroccan company Office Cherifiens des Phosphates (OCP) was expected to supply 300,000 tonnes of DAP under contract.

India is the world’s largest importer of DAP, accounting for nearly half of all trade.

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By: Mike Nash
+44 20 8652 3214

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