IFA ’10: China DAP producers sell another cargo to India

02 June 2010 14:52  [Source: ICIS news]

PARIS (ICIS news)--Chinese phosphate fertilizer producers have sold yet another diammonium phosphate (DAP) cargo to India, bringing the total sold so far to 900,000-1m tonnes for 2010 delivery, a China-based trader confirmed on Wednesday.

Speaking on the sidelines of the International Fertilizer Industry Association (IFA) conference in Paris, France, the trader said that it had sold 25,000 tonnes of DAP at a price of around $460/tonne (€377/tonne) FOB (free on board), with loading in the first half of July.

Unconfirmed reports suggested the buyer was Rashtriya Chemicals and Fertilizers, which had issued a series of tenders in recent weeks.

China is estimated to have now booked well over 1m tonnes of DAP to India and Pakistan for shipment during June-August, when the low export tax level of 7% takes effect.

India has so far contracted close to 7.5m tonnes of DAP for delivery during 2010-2011.

IFA takes place from 31 May-2 June.

($1 = €0.82)

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By: Mike Nash
+44 20 8652 3214

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