Indian importer and supplier RCF closed a tender today, seeking a minimum of 2.5mn t/yr of urea over three years, but there was no interest from major suppliers.
Only one trading firm is understood to have participated — it is not yet clear which trading firm took part in the tender.
RCF was looking for at least 500,000 t/yr of either granular or prilled urea, delivering bulk shipments of 40,000-60,000t, from each supplier. Offers were to be made in terms of a percentage discount to cfr east and west coast India prices under the most recent government tenders.
India is typically the largest urea importer, and its regular state-backed tenders are closely watched in the international urea market. The country has bought 9.23mn t of urea this calendar year through tenders.
