Indian fertilizer importer NFL has opened prices submitted in its 29 August urea buy tender, which saw the lowest levels at $340/t cfr west coast and $349.88/t cfr east coast, and valid offers totalling 3.87mn t.
OQ Trading offered 400,000t at $340/t cfr west coast, while Ameropa offered just over 136,000t at $349.88/t cfr east coast. These offers are the lowest and set to be automatically accepted as per tender rules.
There were eight other offers in the $340s/t cfr west coast, while the bulk of the east coast offers were in the $350s/t cfr.
Offers to the west coast totalled 1.97mn t and 1.86mn t to the east coast. PIC also offered 45,000t at $362/t fob Bahrain, bringing overall valid volumes to 3.87mn t. One trading firm, which had offered 50,000t to the west coast, was disqualified.
NFL has requested that cargoes load to the end of October. The full breakdown of offers is as below, but there was no confirmation from the parties involved.
| India's NFL 29 August urea tender offers | t | |||||
| Supplier | East coast | $/t cfr EC | West coast | $/t cfr WC | Fob | $/t fob |
| Sun International | 100,000 | 352.40 | 0 | 0 | ||
| Midgulf International | 150,000 | 355.15 | 150,000 | 350.15 | 0 | |
| Agricommodities (ETG) | 150,000 | 363.12 | 47,500 | 345.60 | 0 | |
| RE Energy | 0 | 50,000 | 358.50 | 0 | ||
| Fertistream | 80,000 | 356.00 | 80,000 | 351.00 | 0 | |
| Dreymoor | 100,000 | 374.92 | 100,000 | 367.92 | 0 | |
| Ameropa Asia | 136,300 | 349.88 | 136,300 | 346.48 | 0 | |
| Indagro | 42,500 | 351.00 | 42,500 | 346.00 | 0 | |
| Continental | 100,000 | 357.00 | 100,000 | 341.25 | 0 | |
| Samsung | 135,000 | 352.90 | 135,000 | 345.20 | 0 | |
| Aditya Birla | 200,000 | 353.00 | 200,000 | 345.45 | 0 | |
| PIC | 0 | 0 | 45,000 | 362 | ||
| Hexagon | 50,000 | 357.09 | 50,000 | 355.09 | 0 | |
| OQ Trading | 100,000 | 355.50 | 400,000 | 340.00 | 0 | |
| Coastal Chemical | 90,000 | 360.00 | 90,000 | 353.00 | 0 | |
| Koch | 95,000 | 361.95 | 95,000 | 356.95 | 0 | |
| Keytrade | 50,000 | 359.50 | 50,000 | 355.00 | 0 | |
| Macrosource | 45,000 | 362.00 | 45,000 | 355.00 | 0 | |
| Medallion | 50,000 | 357.50 | 50,000 | 344.50 | 0 | |
| Alkagesta | 45,000 | 356.00 | 45,000 | 350.00 | 0 | |
| Agrifields | 40,000 | 359.00 | 0 | 0 | ||
| Sabic | 100,000 | 357.50 | 100,000 | 345.50 | 0 | |
| Sub-total | 1,858,800 | 1,966,300 | 45,000 | |||
| Lowest | Lowest | Grand total | ||||
| 349.88 | 340 | 3,870,100 | ||||
