25 October 2012 17:39 [Source: ICIS news]
HOUSTON (ICIS)--The contract price of benchmark US Tampa ammonia for all November shipments increased 1% from October, a source close to the negotiations said on Thursday.
The settlement between Yara and its customers brings the contract to $720/tonne (€554/tonne) CFR (cost and freight), up $5/tonne from the $715/tonne October price.
The increase for November is reflective of tight global supplies for ammonia and an effort by producers to increase the October price which some maintain did not increase enough from the September level, a source said.
The autumn application season will begin soon in the US midwest, where fertilizer dealers expect to apply up to 2m tonnes of ammonia on acres intended to be planted to corn and other grains harvestable in 2013.
($1 = €0.77)
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