India's RCF receives no offers in NPK tender

Indian fertilizer importer RCF received no offers against its tender to buy 50,000t of 15-15-15 and 30,000t of 10-26-26, which closed on 29 June.

The tender, issued on 20 June, requested shipment by 25 July to the east coast of India.

Demand for high-phosphate NPK grades, such as 10-26-26 and 12-32-16, is expected to pick up as Indian buyers look for alternatives to DAP, which currently holds a $99.50/t premium over 10-26-26. This grade was last assessed at $436-443/t cfr India duty free/duty paid on 27 June.

India's stocks of NP/NPK edged up to 5.3mn t at the start of June on higher imports and production.

By Nykole King