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Buyers' cautious mood puts pressure on producers

Views:11     Author:Site Editor     Publish Time: 2019-12-04      Origin:Site

The raw material prices falling are preventing buyers in Europe and Asia from preparing for fertilization in earlyspring. With very little demand, producers' efforts to maintain price stability have had some success. Acron has sold 10,000 tons of various types of compound fertilizer to China, the price of 16-16-16 is CFR 300-310 / ton, which is same as it in November. The Gomel chemical plant has sold 7,000-9,000 tons of 16-16-16 and 8-19-29 cargo to destinations in Central and Eastern Europe, with delivery starting at November at rollover prices.


But producers are being forced to cut prices in other origins. Russia's offer to Romania from 15-15-15 was 255 euros / ton this week, which is 55-60 euros / ton lower than two weeks ago. But buyers are still reluctant to enter the market.


At the same time, there are still nearly 500,000 tons of pending bids in Africa, leading to a lack of transparency in prices in the region.


Increased competition in Africa


Inadequate demand in Europe and Asia has increased competition in Africa. In the earlier of this month, Phosagro's victory in Benin encroached on the homeland of OCP. According to trade data, China exported 10,000 tons of NPKs to Zambia in October, which is the first time China has exported products to Zambia since 2003. 



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