Ferts conglomerate Pupuk Indonesia discloses urea tender results

15 June 2012 14:05  [Source: ICIS news]

NAGOYA, Japan (ICIS)--Indonesian fertilizers conglomerate Pupuk Indonesia Holding disclosed the results of an export tender it held in the afternoon on 15 June, sources said on Friday.

Pupuk Indonesia offered 70,000 tonnes of granular urea from producer PT Pupuk Kaltim and 10,000 tonnes of prilled urea from producer PT Pupuk Iskandar Muda (PIM), both for July shipment.

The 10,000 tonnes prilled urea tender was awarded to Germany-based Helm, which submitted a bid of $495.50/tonne (€391.45/tonne) FOB (free on board) Indonesia, well above the “owner’s estimate” or minimum price set by the producer at $465/tonne FOB Indonesia.

Pupuk Indonesia did not award the granular urea lot because bids fell below the owner’s estimate of $470/tonne FOB Indonesia.

There was no further information regarding where Helm plans to sell the prilled urea cargo.

($1 = €0.79)

By: Gabriela Wheeler
+65 6789 8828

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