Indian Potash Limited issues urea import tender

05 April 2013 15:35  [Source: ICIS news]

LONDON (ICIS)-Indian Potash Limited (IPL) has announced a purchase tender requesting an unspecified quantity of urea, the company said on Friday.

This is the first import tender to be issued by the country in 2013. It will close on 12 April with offers requested to remain valid until 15 April.

IPL has requested the urea to be delivered to India by 31 May.

Indian tenders are globally significant as awards commonly range from 300,000 tonnes to more than 1m tonnes.

The general expectation is that Iranian product will feature heavily under this tender, while urea from Yuzhny and other regions may also be offered.

Urea prices have been under pressure over the last month because of an oversupply situation, and lack of demand due to weather-delayed seasons in the US and Europe.

India is one of the largest importers of urea, and imported nearly 8m tonnes of  the fertilizer in the previous fiscal year.

 


By: Deepika Thapliyal
+44 208 652 3214



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