Bangladesh buys 35-40kt Australia DAP cargo for July shipment

16 June 2010 16:19  [Source: ICIS news]

LONDON (ICIS news)--A private consortium of Bangladeshi buyers has taken a 35,000-40,000 tonne cargo of Australian diammonium phosphate (DAP) fertilizer, trader sources confirmed on Wednesday, which is thought to have committed much of Australia’s DAP availability.

The deal was concluded by trader company Quantum for July shipment, reportedly at $467/tonne FOB (free on board).

Australian producers have already committed 300,000 tonnes of DAP to India and 25,000 tonnes to Pakistan for second half 2010 shipment.

Australia normally exports DAP in the second half of the year when it is off-season domestically. Typically, volumes are between 300,000-500,000 tonnes.

Bangladeshi private buyers were in the market for DAP, which was unlikely to be sourced from China given tighter import quality controls, sources said.

China has sold well over 1m tonnes of DAP to India so far in 2010, leading to tight supply from that region and increased offers of off-specification product with lower nutrient content, sources advised.

Sources said Bangladesh could take as much as 250,000 tonnes of DAP in 2010.

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By: Mike Nash
+44 20 8652 3214

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