Adds Aditya Birla to the list of suppliers, bringing the total secured to 1.3465mn t of DAP
London, 12 May (Argus) — Indian fertilizer importer and producer IPL has issued letters of intent to 14 suppliers, securing 1.3465mn t of DAP at $/t cfr in a tender that closed on 7 May.
Suppliers are to deliver 581,500t of DAP to India’s east coast and 765,000t to the west coast.
The delivery schedule is not yet available, but IPL had specified shipment from loading ports by 15 August in the tender.
The quantity secured is above the 1.2mn t that IPL had sought in the tender. It received offers for 2.325mn t of DAP before asking all suppliers to match the lowest offers submitted at $/t cfr east coast and $/t cfr west coast India.
The suppliers for the east coast are as follows:
The suppliers for the west coast are as follows:
Agricommodities had initially accepted IPL’s counterbid prices for up to 600,000t of DAP from Saudi Arabia. But Argus understands that IPL wanted Agricommodities to load all of its cargoes from Red Sea ports, rather than from Ras al-Khair in the Mideast Gulf.
IPL had also sought 400,000t of TSP in the tender. Argus understands that IPL has countered Moroccan producer OCP at $/t cfr for TSP. Talks with OCP for DAP and TSP are reportedly ongoing.
By Tom Hampson
