Indian NPS prices increase

India ’s RCF won a tender of 50,000-ton 20-20-0 + 13S at US $ 269 / ton CFR.,L/C 45-days,it means the cash price at US $ 268 / ton. The trader is Transglobe and it will provide it from Indonesia NPS. This price is roughly in line with Indonesia's latest NPS deal with India. But this is higher than the RCF ‘s last bid price, when it received 20-20-0 + 13S and 10-26-26 combined cargo from Russia with a total weight of 50,000 tons,it means the cash price at US $ 257 per ton.

In Africa, demand for secret production and informal discussions to ensure production is emerging, rather than open tenders. The restriction of the epidemic explains this strategy. Because the public assembly accompanying the public bidding is restricted, informal bidding with established counterparties can be completed more quickly. The market uncertainty caused by exchange rate fluctuations and the unclear demand of farmers may also promote informal discussions.

India ’s prices are supported by recent bidding activities, while demand in other parts of Asia is growing. But Europe and Latin America are still very quiet.