Sources reported late Friday, Sept. 15, India time that discussions are currently underway to call another urea tender. The new tender could be called as soon as this weekend, but more likely after Monday, Sept. 18. The news was received after the Green Markets Sept. 15 issue went to press.
Sources said STC will most likely call the next tender. The poor showing of available tonnage in the IPL tender that closed on Sept. 8 has left India with a urea shortfall of about 1.5 million tons for the rest of the year.
It is unusual for any of the Indian buying houses to call a tender before the ship-by date of a recent tender. Award winners in the IPL tender have until Oct. 23 to ship their product. Sources reported, however, that the bulk of the tonnage awarded to one trader is already being loaded. Other award winners are also reportedly lining up prompt shipments of their cargoes. If the full 327,000 mt gets loaded soon, sources said a new tender would not compete with the cargo awarded under the IPL tender.