Compound fertilizer---OCP lead dominates Ethiopian bidding again

After two delays, Ethiopia's EABC finally ended the NPS tender this week. As

expected, similar to previous years, Morocco's OCP dominated the tender, and the

tender requirements covered the quotations for 2019-2022. OCP plans to accept all but one batch within three years. The only possible to loss for OCP is 25,000 tons of NPS + Zn for 2020-2021, the lowest price offered by Turkey's Iskenderun

Fertilizer Company. Only 4 out of 47 lots have multiple offers, which is obviously lack of competition. However, in the current crop year, OCP is expected to receive a total of 88.8 tons.

 

Elsewhere, India continues to buy. It is reported that Phosagro sold 40,000 tons of 20-20-0 + 13S to Kribhco, but could not determine the price of the sale. In the

West, a Brazilian buyer purchased 15,000 tons of Russian 15-15-15 and 10,000 tons of Moroccan 15-15-15 at a price of $285/tonne CFR, delivered in November.

However, Brazil's indicators have further declined, currently at around US$270/tonne CFR.