Adds the disqualification of Qmark Group's offer in the second paragraph. Updates the origin offered by Sun International in the third paragraph.
State-owned Bangladeshi fertilizer importer and producer BCIC received two offers in its tender to buy 20,000t of 52-54pc P2O5 phosphoric acid, which closed on Monday.
Bangladeshi trading firm and newcomer to BCIC phosphoric acid tenders Qmark Group offered the lowest at $633/t cfr, equivalent to $1,172-1,217/t P2O5 cfr. But this offer was disqualified. The origin offered is not known.
Trading firm Sun International offered $655.90/t cfr, equivalent to $1,215-1,261/t P2O5 cfr, for South African or Jordanian product.
BCIC asked for the cargo to be shipped within 45 days of the receipt of the letters of credit, for delivery to Chattogram.
The offers are higher compared with Sun International's offer at $617.76/t cfr — equivalent to $1,144-1,188/t P2O5 cfr — in BCIC's 1 January tender to buy 20,000t of the same grade of acid. They are also above the offers for 52-54pc P2O5 acid to BCIC in November at $620.87-631/t cfr — equivalent to $1,150-1,213/t P2O5 cfr.
The lift in offers supports firmer expectations for the Indian phosphoric acid contract price — the global benchmark — for the second quarter, from the first-quarter price of $1,055/t P2O5 cfr India.
