IPL issues urea tender – Alert

Indian Potash Ltd. issued its much-anticipated urea tender Monday, Nov. 23. The tender will close Saturday, Nov. 28. The offers must include validity through Dec. 12 with shipping done by January 6, 2016. The tender calls for prilled or granular urea for delivery to any Indian port. In the run up to the announcement, industry sources said IPL will most likely try to take 1 million tons to close out the urea buying season for the country. In addition, traders speculated offering prices could be flat when compared to the recent STC tender.