India’s IPL seeks lower DAP prices in 1.2 million-ton import tender

Indian fertilizer importer IPL has issued counterbids in its tender to purchase 1.2 million metric tons of diammonium phosphate (DAP), seeking lower prices after receiving offers from 18 traders and producers.

IPL requested suppliers to match the lowest offers, setting counterbid levels at $935 per metric ton cfr for the East Coast and $930 per ton cfr for the West Coast. The tender closed on May 7.

Trading firm Indagro submitted the lowest offers, with 40,000 tons for the east coast and 30,000 tons for the west coast. Total DAP offers reached 2.325 million tons, nearly double the requested volume. Of this, 965,000 tons were for the East Coast and 1.36 million tons for the West Coast.

IPL has not yet responded to triple superphosphate (TSP) offers received under the same tender. Suppliers submitted a total of 410,000 tons of TSP.s.

Source: Argus Media