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You can unsubscribe from these updates at any time. We manage your personal data in accordance with our privacy policy.Abu Dhabi's state-owned Adnoc set its December official sulphur selling price (OSP) for the Indian subcontinent at $165/t fob Ruwais, up by a substantial $30/t on its November OSP.
Adnoc's December OSP implies a delivered price of $183-184/t cfr India, with the freight cost for a 40,000-45,000t shipment to the east coast of India last assessed at $18-19/t on 28 November.
Singapore, 2 December (Argus) — State-owned Pupuk Indonesia has distributed about 6.6mn t of subsidised fertilizers to registered domestic farmers as of late November. This is around 87.7pc of the total contract volume of 7.54mn t with the Ministry of Agriculture, according to Pupuk on 2 December. The distributed volumes consists of 3.36mn t of urea, 3.21mn t of NPK fertilizers, and 38,400t of Pupuk's Petroganik organic fertilizers. The recent allocations of subsidised fertilizers aim to help domestic farmers maximise crop productivity during the seasonal crop application period from October to March. Farmers that are members of a farmers' group, individually registered with the Agricultural Extension Management Information System (SIMLUHTAN), and farm no more than two hectares of land are eligible to receive the subsidised fertilizers. The allocation of subsidized fertilizers is also limited to farmers who cultivate nine strategic crops: rice, corn, soybeans, chilli, onions, garlic, coffee, sugarcane, and cocoa. The Indonesian Ministry of Agriculture increased Pupuk Indonesia's 2024 subsidised fertilizer allocation volumes to 9.5mn t in April. This aimed to boost domestic agricultural productivity and support national food security efforts. Pupuk Indonesia is likely to continue increasing its production and distribution of subsidised fertilizers for the domestic sector next year, in line with the Indonesian government's plan to launch a program to develop around 3mn hectares of new rice fields . By Dinise Chng Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Houston, 27 November (Argus) — US president-elect Donald Trump's plan to impose tariffs on all imports from Canada and Mexico could increase potash prices in the US. Trump said Monday via social media that he would he would slap 25pc tariffs on all products from the two neighboring countries after he takes office on 20 January. For the US fertilizer market, the greatest potential impact would be on potash. Canada provided 87pc of all US potash imports at 11.7mn metric tonnes in the fertilizer year ended in June, according to US Census Bureau data. The potential tariffs put Canadian suppliers in a tight spot. They could cut prices to mitigate importers' higher costs. Or they could hold prices steady to maintain netbacks but risk losing sales in the US market on which they rely and have extensive distribution networks. US Corn Belt MOP prices have dropped to around $300/st fot in November. With a 25pc tariff added on, importers would need to sell MOP at $375/st fot to receive the same margins. Canadian producers could also eat some of the tariff cost, as they have limited alternative markets for US volumes. The overall impact remains unclear and "too early to tell," according to market participants. One potential sign of the tariff threat taking effect would be if US buyers move up winter fill buying to December to get ahead of the 20 January deadline. Canada could retaliate with its own tariffs, just as Mexico has said it would consider . Trump, who used tariff negotiations as a negotiation tactic in his first presidential term, could also end up exempting fertilizer products from his proposed tariffs, according to market participants. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
London, 27 November (Argus) — Bangladesh's ministry of agriculture received offers for 60,000t of DAP at $685.30-691/t cfr and 115,000t of TSP at $567.80-600/t cfr in its latest private-sector tender, which closed today. The ministry received two offers for DAP: Bulk Trade International offered 30,000t at $685.30/t cfr Saifullah Gulf offered 30,000t at $691/t cfr The ministry also received six offers for TSP: Bulk Trade International offered 25,000t at $567.80/t cfr Mounota Trade Index offered 20,000t at $573.50/t cfr Noapara Traders offered 30,000t at $573.50/t cfr Saifullah Gulf offered 26,000t at $574/t cfr Alif Trading offered 4,000t at $574/t cfr Noapara Trading offered 10,000t at $600/t cfr Argus understands that much of the product offered in the tender will be shipped from Morocco. There were reports that one of the DAP cargoes offered will be shipped from China. The lowest offers in this latest tender are up compared with those under the ministry's 18 November private-sector tender , which received offers for 120,000t of DAP at $678.40-717/t cfr and 113,000t of TSP at $561.90-585/t cfr. The ministry likely awarded 40,000t of Moroccan DAP to Bulk Trade International at the offered level of $678.40/t cfr, with negotiations ongoing for further cargoes, under the 18 November tender. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Houston, 25 November (Argus) — Mosaic halted MOP production at its Colonsay processing facility in Saskatchewan, Canada, after the roof collapsed early last week. The processing facility is part of Mosaic's larger Colonsay mine site, which has capacity to produce 1.5mn metric tonnes (t) of potash annually. But the mine only produced 600,000t in 2023. Mosaic said it did not anticipate impacts to its overall fourth quarter sales. No time line was given on when production will come back online. Mosaic is still investigating what caused the collapse. There were no negative impacts to potash reserves or personnel, according to the company. In the third quarter, Colonsay's production was reduced because of electrical issues at the mine. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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