India's FACT scraps ammonia tender on high price

20 September 2011 15:09  [Source: ICIS news]

DOHA, Qatar (ICIS)--Indian fertilizer manufacturer Fertilisers and Chemicals Travancore (FACT) has scrapped its latest ammonia tender on high prices, market sources said on Tuesday.

Speaking on the sidelines of the Gulf Petrochemicals and Chemicals Association (GPCA) Fertilizers Convention, sources said that FACT had deemed the price offer received under the tender too high.

FACT tendered on 12 September for 7,500 tonnes of ammonia for 25-30 September or earlier delivery to Cochin, western India.

The tender received only one offer because of the tight supply situation. Qatar Fertiliser Co (QAFCO) offered at $605/tonne CFR (cost & freight).

The latest contract business into India was agreed in the $555–575/tonne CFR range.

The GPCA convention is taking place in Doha, Qatar, and runs 19-21 September.

By: Rebecca Clarke
+44 20 8652 3214

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