IFA '10: Fauji confirms purchase of Chinese DAP cargo

31 May 2010 13:57  [Source: ICIS news]

PARIS (ICIS news)--Pakistani fertilizer importer and producer, Fauji Fertilizer Company (FFC), has purchased a cargo of Chinese phosphate fertilizer for import, a company source confirmed at the sidelines of the International Fertilizer Industry Association annual conference in Paris, France, on Monday.

The cargo of Chinese diammonium phosphate (DAP) was bought from trader company Quantum in the low-$500s/tonne (€400s/tonne) CFR (cost and freight), in line with previous purchases.

The deal brings the total amount of DAP lined up for import during 2010 to just over 400,000 tonnes. Pakistan normally imports around 1m tonnes of DAP per year and traders were expecting further deals in the coming days.

The rate of import accelerates in the second half of the year to coincide with the domestic season in Pakistan.

Major DAP producers include the US, Russia and North Africa as well as China.

($1 = €0.81)

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By: Mike Nash
+44 20 8652 3214

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