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International compound fertilizer market

Views:8     Author:Site Editor     Publish Time: 2021-09-07      Origin:Site

More African tenders

Chad and the Democratic Republic of Congo (DRC) announced two other African tenders. According to the bidding until September 20, Chad Cotontchad is looking for 28,000 tons of 15-15-15+6S+1B in 50kg bags. According to the bidding until September 10, the government of the Democratic Republic of Congo is looking for 10,000 tons 17-17-17. But more importantly, the most anticipated African tender has not yet been announced-in Ethiopia.

Elsewhere, the demand from India is still very larget. India’s NFL bid for the purchase of 50,000 tons of 12-32-16 again, and the deadline is September 6, but it has not awarded its previous tender that ended on August 26.They received a quotation from a trader Midgulf at US$580/ton CFR, supplying 50,000-55,000 tons of Moroccan 12-32-16.

Market drivers

The delay in the Ethiopian tender has put pressure on OCP. The EABC tender in Ethiopia this year is still absent from the market. It usually looks for more than 1 million tons of various NPS products, mainly supplied by OCP in Morocco. The delay may put some pressure on OCP because OCP may provide more products than expected in the fourth quarter.

European dealer turned their attention to spring sales. Market participants have returned from the holidays and are focusing on sourcing spring products now.

The outlook for 30-60 day

Stable to firm

The prospects for raw materials are mixed, and there is great uncertainty in the price trend of urea. Phosphate prices have stabilized to weakness, while potash prices have shown an upward trend. However, the supply and demand of the compound fertilizer market may be more indicative of the market's direction, because producers are comfortable in the short time and there is no pressure to lower prices. There is still some demand in India, Turkey, Brazil and Africa, which will help support prices.



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