India's RCF seeks 100,000t of NPS

Spanish Market: Fertilizers
29/04/24

Indian fertilizer importer RCF has issued a tender to buy two 50,000t lots of 20-20-0+13S.

RCF requests delivery of the first lot by 10 June and the second by 20 June.

The tender is to close on 3 May, and offers must be valid until 7 May.

The tender is open only to suppliers with which RCF has signed long-term agreements.

RCF in February bought just over 30,000t of Saudi Arabian 20-20-0+13S from a trading firm at around $359/t cfr duty unpaid, equating to $377/t cfr duty paid/free.

The Argus assessment for Indian imports of the grade has remained broadly flat since, largely because of a lack of trade. Indian importers have been buying mainly NPK grades — particularly Russian-produced 10-26-26 — while high stocks have helped to ensure little NPS activity.

But the nutrient-based subsidy (NBS) for 20-20-0+13S being raised by just 11pc season on season, compared with 19pc for 10-26-26 and 20pc for 12-32-16, has also helped to nudge demand towards the latter products.

By David Maher

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