Nigerian fertilizer producer Dangote sold 30,000t of granular urea in the mid $320s/t fob to a trading firm under a sales tender yesterday, slightly lower on previous business last week.
The sale was confirmed on the evening of the tender on 27 August. But the price has since emerged in the mid $320s/t fob, marking a slight drop from sales around $327-328/t fob last week for tonnage loading in the first half of next month.
The cargo under this most recent sale will load in mid-September. The deal marks Dangote's fourth export sale since mid-August.
Nigeria has been a rare source of liquidity in recent weeks, with the international urea market largely ground to a halt as participants await the fallout from a major buy tender in India closing tomorrow.
