Vietnam's state-owned fertilizer producer PFVCCo has sold 45,000t of prilled urea at around $460/t fob this week for early March shipment.
There were unconfirmed reports of the deal late on Thursday.
The producer is still in the market, offering limited volumes of prilled urea for export in containers, with target sale price levels heard at $490-500/t fob.
Vietnamese urea sales have picked up, with market participants estimating that domestic producers Ninh Binh and Ha Bac have collectively sold around 100,000t of prilled urea for loading in January-February, while Ca Mau has sold around 100,000t of granular urea. Most of the traded product will likely be heading to India under the NFL's 2 January tender or perhaps to other deep-sea markets.
Meanwhile, domestic urea demand in Vietnam was muted, leaving producers stuck with high inventories. Suppliers are trying to raise local prices, but buying interest was limited. Demand is likely to rise after the lunar new year holidays. Domestic prices for Ninh Binh prilled urea were last heard around 12,000 dong/kg ($460/t) ex-warehouse.
