Pusri sells prills at $381/t fob Indonesia: Update

Adds prilled urea sale, BFI tender details

Pupuk Indonesia subsidiary Pupuk Sriwidjaja Palembang (Pusri) sold 5,000t of prilled urea at $381/t fob today.

Bids emerged earlier in the day in the $360s/t fob. There was no confirmation from the parties involved. Bids were to be valid until 17 September.

International urea prices are rising in the wake of a major tender to buy in India, which resulted in more tonnage being bought than most had expected. Prilled urea remains at a considerable premium to granular product east of Suez, given the lack of shipments from China, the region's top supplier. Granular urea is priced in the $330s/t fob southeast Asia, reflecting latest bids emerging from Bruneian supplier BFI's latest sales tender, which also closed on 13 September.

By Harry Minihan