22 May 2012 07:11 [Source: ICIS news]
DOHA, Qatar (ICIS)--Trading Corporation of Pakistan (TCP) has bought 100,000 tonnes of urea under its 21 May purchase tender, market sources said late on Monday.
Speaking on the sidelines of the International Fertilizer Industry Association (IFA) conference in ?xml:namespace>
TCP was expected to purchase 300,000 tonnes of urea in its 21 May tender. It remains unclear whether TCP will make any other awards under the tender.
There had been some expectations that TCP would only buy small volumes under the tender, as Pakistani producers are holding more than 800,000 tonnes in stocks and had asked the government to purchase from them rather than the international market.
The price at which TCP’s tender was awarded is below recent business agreed in
However, there is a weakening tendency in the market at present as upcoming demand is not deemed sufficient to support current price levels.
The price in
The IFA conference runs from 20-23 May.
($1 = €0.78)
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