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Latest market news

Kuwait's KPC raises June sulphur price to $805/t fob

  • Market: Fertilizers
  • 03/06/26

Kuwait's state-owned sulphur producer KPC has set the June Kuwait Sulphur Price (KSP) at $805/t fob Kuwait, up by $40/t from the May KSP of $765/t fob.

Freight rates as of 28 May were $154-170/t for a 30,000-35,000t shipment to Chinese ports. This implies a delivered cost of $959-975/t cfr, with additional insurance premiums raising prices further on a delivered basis.

Loadings continue for June shipments, but at a reduced rate. The delivery period for Middle East sulphur remains uncertain with the strait of Hormuz still largely closed, and no sulphur vessels crossing since last week.

By Maria Mosquera

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02/06/26

India buys Moroccan DAP, TSP

India buys Moroccan DAP, TSP

London, 2 June (Argus) — A major Indian importer has bought 100,000t each of DAP and TSP for shipment from Morocco in June-July. Half of the quantity for each product will be delivered to each of India's east and west coasts. The DAP is priced at $935/t cfr east coast and $930/t cfr west coast India. This is in line with awards under IPL's tender in May , which secured more than 1.3mn t of DAP. The TSP is priced at $710/t cfr for both east and west coasts. This is in line with IPL's counterbids under its tender in May, after getting offers for 410,000t at prices ranging from $770-850/t cfr. The prices in this sale are likely to net back to the $880s/t fob Morocco for the DAP and the $660s/t fob for the TSP. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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News

Oman’s Omifco plans IPO

02/06/26
News
02/06/26

Oman’s Omifco plans IPO

Amsterdam, 2 June (Argus) — Omani urea and ammonia producer Omifco aims to float 25pc of its existing shares on the Muscat exchange through an initial public offering (IPO). The precise timeline for the IPO has not been confirmed, but the firm has indicated an expected listing at some point in July, according to its website. Oman's OQ owns half the business, with India's Iffco and Kribhco holding a quarter each. Omifco produced 2.07mn t of urea in 2025, almost all which was exported and sold by OQ, with India accounting for 71pc of deliveries in 2023-25, while 17pc went to Latin America. The firm also produced 1.35mn t of ammonia last year, with India receiving 61pc of shipments in 2023-25 and 23pc shipped to African markets. Omifco exports from the Omani port of Sur. The firm has yet to publish an IPO prospectus, but reported revenue of just over $800mn last year and a profit margin of 40pc, implying profit of just under $321mn. In comparison, fellow supplier Fertiglobe, which operates nitrogen facilities in the UAE, Egypt and Algeria, posted revenue of $2.83bn in 2025, while Saudi Arabia's Sabic reported revenue of 13.1bn riyals ($3.49bn) last year. Omifco is the top urea producer in Oman and the joint third-largest producer in the Mideast Gulf — not including Iranian suppliers — after QatarEnergy and Sabic and has roughly the same urea capacity as Fertiglobe's Fertil facility in the UAE. The timing and speed of the IPO launch are not surprising. Urea and ammonia prices spiked in the aftermath of the US-Iran war at the end of February and the effective closure of the strait of Hormuz. The Middle East is the largest urea exporting region, shipping around 20mn t/yr, or 35pc of global seaborne trade, of which just over 17mn t/yr either loads beyond the strait of Hormuz or from Iran. But Omani suppliers have escaped the snarled traffic in the wider region in recent months and were largely able to continue operations and shipments, capitalising on the highest nitrogen prices in nearly four years. But urea prices have tracked lower in recent weeks, having hit a peak in mid-April. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Romgaz buys ferts producer Azmoures: Correction

01/06/26
News
01/06/26

Romgaz buys ferts producer Azmoures: Correction

Corrects total value of deal and value of plant in paragraph 3. London, 1 June (Argus) — Romanian state-controlled gas supplier Romgaz completed the purchase of domestic fertilizer producer Azmoures for €69mn on 29 May. Members of the interim government confirmed the deal in separate social media posts, although interim prime minister Ilie Bolojan clarified that approval was still required from Romgaz shareholders, the competition authority and the foreign investment commission. The price paid totals €69mn — €46mn for the value of the plant, €10mn for the raw material and remaining stocks, and €13mn to keep the plant running for two months, Bolojan said. "In a volatile geopolitical context, this is the right direction: Romanian gas used domestically, a national industry that produces competitive fertilizers, cheaper inputs for our farmers and strengthening Romania's economic position," minister Bogdan Ivan said. Romgaz on 7 May said it had reached an "agreement in principle" and expected the acquisition to be approved by board of directors for a final agreement by 31 May. Azomures, which is owned by Switzerland-based trading firm Ameropa, can produce up to 1.6mn t/yr of NPK and nitrogen fertilizers. It is one of Romania's biggest gas consumers, with demand of about 1bn m³/yr when operating at full capacity. But it has not produced fertilizer since August 2024 , barring small-scale production in the second half of last year . Romgaz first expressed interest in Azomures in February 2025, but the sales process stalled in January, with Azomures mothballing production facilities . The government then intervened to revive the prolonged talks. By Aidan Hall Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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QatarEnergy raises June sulphur price to $805/t fob

31/05/26
News
31/05/26

QatarEnergy raises June sulphur price to $805/t fob

London, 31 May (Argus) — State-owned QatarEnergy Marketing has raised its June Qatar Sulphur Price (QSP) by $65/t to $805/t fob Ras Laffan/Mesaieed. Freight rates as of 28 May were $154-170/t for a 30,000-35,000t shipment to Chinese ports. This implies a delivered cost of $959-975/t cfr, with additional insurance premiums raising prices further on a delivered basis. Delivered Middle East sulphur prices are higher compared to product from competing origins, allowing Vancouver fobs for example to rise above Middle East fobs to $990-1,100/t fob. Another problem for Middle East supply is the longer delivery time as a result of uncertain passage through the strait of Hormuz since the onset of the US-Iran war. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

India’s IPL scraps sulphur tender

29/05/26
News
29/05/26

India’s IPL scraps sulphur tender

Singapore, 29 May (Argus) — Indian fertilizer importer India Potash Limited (IPL) has scrapped its buy tender for 593,500t of sulphur. Offers were valid until 27 May. The tender, on behalf of eight Indian companies, requested 527,500t and 66,000t for June-August delivery to the east and west coasts of India, respectively. The tender received offers for the east coast at $1,1,70-1,295/t cfr for June-July shipment, and $1,065-1,098/t cfr for August. No full cargoes were offered to the west coast, while two 3,000t cargoes were offered at $1,400/t cfr. While the lowest offer received was for a total of 593,000t at $565/t cfr, its legitimacy was unclear and was widely thought to have been disqualified at an earlier stage. Offers quoted in this tender came in above prevailing market indications, with Argus -assessed granular sulphur cfr India prices at $1,000-1,100/t cfr as of Thursday. IPL was understood to have entered price negotiations with traders, but the tender was subsequently scrapped. By Deon Ngee Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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