Indian fertilizer importer NFL said it will look to import its 500,000t MOP requirements for the 2018-19 fiscal year ending 31 March under a term contract.
NFL will be inviting offers from producers in June. The buyer currently has no long-term supply contracts for MOP, typically buying cargoes through tenders.
NFL on 13 March sought through a tender to buy 25,000t delivered to the west coast of India and 25,000t delivered to the east coast. But it only received one offer for 25,000t deliverable to the west coast, which it turned down.
India last year imported 4.6mn t of MOP, up by 21pc from 2016. Imports in the 2017-18 fiscal year ending 31 March were around 5mn t, of which 3.2mn t was for direct application and the rest was consumed by NPK producers.
