Compound fertilizer market

With the closure of several domestic factories, India continues to attract interest from suppliers, as it is currently the only market showing strong demand. This led Morocco ’s OCP to enter the Indian compound fertilizer market for the first time, selling 25,000 tons of 12-32-16 at a low price of $ 300 / ton cfr (usually supplied by Phosagro in Russia). Including this batch of goods, the total sales volume of NPK / NPS in India this week was about 170,000 tons. The import volume from April to June reached nearly 350,000 tons, compared with 270,000 tons in the same period in 2019. Among other sales that have emerged, including the NJFC in Jordan, the sales price of 11,000 tons of 20-20-0 + 13S is US $ 240 / ton CFR, which lowers the price of the ratio by US $ 10 / ton. It is reported that Phosagro also sold the second batch of 60,000 tons of 10-26-26 and 20-20-0 + 13S goods to Kribhco, while Transglobe sold Russian 16-16-16 to IPL at a price of US $ 259.75 / ton CFR , The credit period is 90 days.

Europe and Africa are now in the peak season, and most of the supply is about to apply for coverage. However, in the context of the uncertainty of the epidemic, market participants continue to wait and see. There is little discussion of new demand in most regions. In addition, Indian demand is expected to remain strong.