Morocco’s OCP agrees Q2 phosphoric acid price with Indian JV partners

23 April 2014 17:29 Source:ICIS News

LONDON (ICIS)--Moroccan fertilizer producer Office Cherifien des Phosphates (OCP) is understood to have settled second-quarter phosphoric acid prices with its joint venture partners in India at $715/tonne CFR (cost and freight), market sources said on Wednesday.

The settlement is $35/tonne up from the $680/tonne CFR settlement announced in the first quarter of 2014.

Producer price ideas were understood to have been originally around $770/tonne CFR based on rising sulphur prices and with Indian buyers asking for $720/tonne CFR, but neither party looked willing to compromise following weeks of negotiations.

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, Zuari and Paradeep Phosphates.

By Sylvia Traganida