Sri Lankan urea tenders awarded

Private sector buyers in Sri Lanka have purchased 22,000t of prilled urea under tenders that closed this week.

Baurs and CIC have purchased 15,000t and 7,000t of urea respectively at $373/t cfr bagged with 180-270 days' credit for November shipment. Trading firm Aries is the supplier. There are unconfirmed reports that it will load the cargo in Egypt.

The Sri Lankan government has raised the ceiling price for imported urea to qualify for subsidy to $384/t cfr with 180 days' credit, from $338/t previously, to enable the imports by the private sector.