Adds list of cargoes and discharge ports
Amsterdam, 28 November (Argus) — Indian fertilizer importer IPL has sent letters of intent (LOIs) to suppliers for a total of 1.56mn t under its 20 November tender.
IPL has bought 963,950t of urea at $/t cfr west coast and 596,200t at $/t cfr east coast. The importer had countered suppliers in line with those lowest offers last week, with the acceptance deadline closing on 26 November. The full split of awards to trading firms on a cargo by cargo and port basis is listed below.
The quantity is at the high end of expectations when prices emerged last week, with participants projecting 1mn-1.5mn t of acceptances. IPL was seeking 2.5mn t of urea to be loaded by 15 January 2026.
By Harry Minihan
