Morocco’s OCP agrees phosphoric acid price in India until end of year

14 August 2014 17:18 Source:ICIS News

LONDON (ICIS)--Moroccan fertilizer producer Office Cherifien des Phosphates (OCP) is understood to have settled phosphoric acid prices with its joint venture partners in India at $765/tonne CFR (cost and freight) with 30 days’ credit for July-December, market sources said on Thursday.

The settlement is $50/tonne up from the $715/tonne CFR settlement announced in the second quarter of 2014.

Producers were initially heard looking for a price of $750-780/tonne CFR, while buyers were seeking a rollover at $715/tonne CFR and were even willing to agree to $750/tonne CFR.

Other suppliers are now expected to follow suit. OCP's joint venture partners - that jointly import phosphoric acid from Morocco to India - include Tata Chemicals and Zuari.

By Sylvia Traganida