India’s FACT receives four offers in ammonia tender

26 April 2011 14:30  [Source: ICIS news]

LONDON (ICIS)--Indian fertilizer manufacturer Fertilizer and Chemicals Travancore Ltd (FACT) has received four offers under its 26 April ammonia tender, market sources said on Tuesday.

FACT issued a tender for 7,500 tonnes of ammonia for delivery to Cochin during 15-20 May. Trader Transammonia submitted the lowest offer at $545/tonne (€376/tonne) CFR (cost and freight).

Kuwait’s Petrochemical Industries Co (PIC) offered at $560/tonne CFR and Qatar Fertiliser Co (QAFCO) at $565/tonne CFR.

SABIC submitted an offer at $618/tonne CFR.

Offers are understood to have been asked to remain valid for one week.

FACT last issued an ammonia tender in late March, when the lowest offer was made by PIC at $547/tonne CFR. But the tender was subsequently scrapped, as FACT deemed the offer prices too high.

FACT last bought ammonia in September 2010 at $372/tonne CFR.

($1 = €0.69)

For more on ammonia visit ICIS pricing fertilizers

By: Rebecca Clarke
+44 20 8652 3214

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