NPS buddings in India and Europe

Procurement in India accelerated this week. Kribhco purchased 20,000 tons of 20-20-0+13S and 30,000 tons of 12-31-1 at undisclosed prices. IPL getting 2 batches of 30,000 tons of 20-20-0+ 13S cargo. One will be shipped in Indonesia this month at a price of USD 267/ton cfr, and the other Russian cargo ship will be shipped in July for USD 255/ton cfr price. It will be arrived in mid-August. As Demand from India has picked up since the monsoon began earlier this month, the shorter transit time and faster loading of Indonesian goods could push pries higher. Rainfall is expected to be higher than the long-term average, and the direct sales benefit of NPK/NPS from June 1 to 10 has exceeded 60% of overall sales in June 2019.

Elsewhere, Guatemala’s International Trade Organization (Incofe) has been obtained a 20-20-0 of China’s low-end price of 15,000 tons at US$220/ton cfr.

After several weeks of price stabilization, India’s demand for NPS and phosphate, together with rising interest in Europe and Latin America, will support global NP/NPK prices.