The Trading Corp. of Pakistan has concluded talks with four companies to complete its urea buying needs for the remainder of the current applications season. All told, TCP will take 250,000 mt at $431.45/mt CFR based on offers made in the Jan. 19 tender.
CHS Europe provided the lowest offer at $431.45/mt CFR and set the price level for subsequent TCP bids. Under the new rules allowed by the government, the TCP team bid the CHS price to the other companies that participated in the tender. Three companies responded. Dreymoor was awarded 100,000 mt and Incitec Pivot and Global Energy were each awarded 50,000 mt. These tons, in addition to the 50,000 mt awarded to CHS fulfill the urea buying needs for Pakistan.