Indian Potash Ltd, which imports the crop nutrient for the government, received offers for 3.29 million tonnes against a 1.5 million tonne tender for the west coast, with prices between US$935 and US$1,136 per tonne, according to people familiar with the matter.
(April 15): A closely watched urea tender in India — the world’s top buyer of the nitrogen-based fertiliser — drew offers near US$1,000 a tonne, in a fresh sign of how the war in Iran is sending prices for the crop nutrient surging.
Aramco Trading Co and Ameropa Asia Pte were among more than two dozen suppliers offering the crop nutrient to the South Asian nation as high prices following the conflict add urgency to stockpiling ahead of a key planting season.
