24 June 2010 14:19 [Source: ICIS news]
LONDON (ICIS news)--Moroccan phosphate fertilizer producer and exporter Office Cherifien des Phosphates (OCP) has agreed phosphoric acid contracts up by $5/tonne (€4/tonne) as phosphate markets continued to firm worldwide, trader sources said on Thursday.
The deal, with Indian buyers Zuari and TataChem, was agreed at $780/tonne P2O5 (nutrient content) CFR (cost and freight) with 30 days’ credit.
A delegation from Groupe Chimique Tunisien (GCT) was expected in India around 28-30 June to discuss contracts with Coromandel and other buyers.
Phosphate markets are firm on healthy demand emerging in Pakistan, Turkey, Latin America and Bangladesh, as well as continuing contract shipments to India. Most major exporters are fully committed for July.
Phosphoric acid is used in the production of phosphate fertilizers.
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