Indian fertilizer importer IPL has bought 90,000t of DAP from Saudi Arabian producer Ma'aden at $737-738/t cfr for shipment in June.
The product will be shipped in two cargoes.
The price is likely to net back to the high $720s/t fob Ras al-Khair. It is broadly in line with Ma'aden's latest sales to India.
Ma'aden sold three DAP cargoes totalling 135,000t to fellow Indian importers at around $738/t cfr earlier this week, all for shipment in June. It sold 45,000t of DAP to one importer, 40,000t to Kribhco, and 50,000t to another importer.
The latest sale to IPL brings Ma'aden's total sales to India this week to 225,000t. The producer also sold 120,000t of DAP to Ethiopia under EABC's 13 May tender.
