Rashtriya Chemicals and Fertilizers Ltd., called the first urea tender not from the three usual Indian buying houses. The Indian government granted RCF and NFL permission to import urea during the last quarter of this year.
The RCF tender was called Saturday, Oct. 7. The tender closes Oct. 14 with validity of offers until Oct. 24. Awarded cargoes must be shipped by Dec. 4.
Sources had earlier speculated Iran might be able to fulfill all of India’s needs for the rest of the year. India needs just a little less than 1 million tons to meet demand for the current season. Prices jumped $80/mt last month, putting pressure on the Indian treasury. Sources told Green Markets last week there is no indication prices will be coming off by the end of the year.
The price increase has attracted support from Chinese, Ukrainian and Arab producers. Each of these producers, however, are also not willing to push prices lower to ensure awards from India.
Tessenderlo Group on Oct. 9 announced the opening of its new Thio-Sul® manufacturing plant in East Dubuque, Ill. This new manufacturing facility of Tessenderlo Group’s business unit Crop Vitality creates approximately 20 jobs and will allow for delivery of the product more efficiently to the Midwest agriculture community. The liquid fertilizer Thio-Sul® is used for broad-acre crops as well as arboricultural and vegetable crop cultivation.
In 2014, Crop Vitality signed a long-term agreement with Rentech Nitrogen Partners LP, now CVR Partners, to lease property and to provide the facility ammonia – a key ingredient in the production of Thio-Sul®.
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