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the latest Indian urea tender

Views:11     Author:By Deepika Thapliyal     Publish Time: 2018-08-02      Origin:ICIS News

Iran dominates Indian urea tender but prices offered higher than expected

01 August 2018 16:27

LONDON (ICIS)--The lowest price offered under Indian state-run MMTC Limited’s 1 August purchase tender for an unspecified quantity of urea was, as expected, from Iran, according to market sources.

A total of 1.85m tonnes were offered firm.

Of the final purchases, an estimated 550,000 tonnes is expected to be offered from Iran.

The lowest offer was at $274.80/tonne CFR (cost and freight) for the west coast port of Rozi from Eastern Commodities.

For the east coast, the lowest offer was at $278.95/tonne CFR from Comzest for the port of Gangavaram.

MMTC India Purchase Tender,
1 August 2018

Supplier/Origin’000t firmPrice ($/tonne CFR)/Port
Eastern Commodity/Middle East45274.80 Rozi
Comzest/Middle East430275 Rozi

278.95 Gangavaram
Transagri/Middle East210275 Rozi/Pipavav
Pace Global/Middle East60275 Rozi
MTPL94275.25 Mundra
Swiss Singapore214275.52 Pipava/Mundra/Adani
Midgulf160275.9 Adani
Fertrade100279.50 Mundra
Transglobe50280 Rozi
Aries100285.77 Mundra
Dreymoor100286.37 Gangavaram
Keytrade50289.45 Mundra
Amber120289.95 Kakinada/Krishnapatnam/ Gangavaram/Vizag
Ameropa92294.81 Pipavav

The price offered was at the higher end of market expectations.

Offer validity is until 8 August and cargoes are due to be shipped by 17 September.

Prices are $14-15/tonne higher compared to the last Indian tender at $259.97-264.90/tonne CFR when Indian Potash Limited (IPL) bought 1.1m tonnes under its 10 April tender.

MMTC is expected to buy as many tonnes as available, with offer validity due to expire on 8 August.



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