The Indian state-owned company NFL will close a urea tender Dec. 22. Validity of the offers is to last until Dec. 29 with a ship-by date of Jan. 20, 2018.
This tender is to replace the Oct. 31 tender by NFL, which was scrapped by the Indian Department of Fertilizers. Prices offered in the last tender neared $300/mt CFR. The DOF deemed the price too high and denied NFL the funds to make awards.
Sources predict the prices in the new tender will be in the mid-$240s/mt CFR range. Iranian material is expected to dominate offers.
Sources had said if a tender was to be called, it had to be before the end of the year. Permission for NFL to import urea expires Dec. 31.
The offers will be revealed Dec. 26.