Trading Corp of Pakistan closes urea purchase tender

07 February 2011 11:54  [Source: ICIS news]

LONDON (ICIS)--Trading Corporation of Pakistan (TCP) has closed a purchase tender for 225,000 tonnes of urea, market sources said on Monday.

Seven companies submitted offers in TCP’s tender, which closed on Monday, with the lowest by international trading company Swiss Singapore for 100,000 tonnes at $404.30/tonne (€229.18/tonne) CFR (cost and freight).

Swiss Singapore stated the urea will be of Iranian origin.

No awards have yet been announced, but are expected to be in the coming days.

TCP requested prompt shipment.

The tender offers show how far international urea prices have climbed in recent months. TCP’s last tender, which closed 22 July 2010, was awarded at $287.89/tonne CFR.

($1 = €0.74)

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By: Carl Roache
+44 20 8652 3214

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