India's MMTC awards 120,000-130,000 tonnes under urea tender

12 May 2011 13:38  [Source: ICIS news]

LONDON (ICIS)--Indian state trading company MMTC has made an award of 120,000130,000 tonnes of urea under its latest purchase tender, market sources said on Thursday.

MMTC closed a tender for an unspecified quantity of urea on 4 May. It subsequently issued the following awards to traders at $399/tonne (€279/tonne) CFR (cost and freight):

• 55,000 tonnes to Toepfer for Mundra port

• 40,000-50,000 tonnes to Swiss Singapore for Mundra port

• 25,000 tonnes to Transglobal for Kandla port

The urea is for shipment before the end of June.

Toepfer is expected to supply from Oman, with Swiss Singapore and Transglobal likely to supply Iranian urea.

The quantity awarded was less than expected and could result in a different Indian state agency issuing a tender again soon for additional quantities.

($1 = €0.70)

For more on urea visit ICIS pricing fertilizers

By: Carl Roache
+44 20 8652 3214

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