India’s MMTC has called a urea tender to close Oct. 14 with shipping by November 14. The move came as a surprise. Another tender call was not expected until the last of the cargoes booked under the previous tender were shipped. Sources had earlier speculated, however, a call could come if vessels for the tonnage were nominated before the Oct. 16 shipping deadline.
Sources reported sales of urea in the country have been good due to better-than-expected rains. Bottom line, said one trader: They need the urea.
OCP SA, Casablanca, has secured the go-ahead from the Moroccan government to set up a company in Mexico to meet demand in Central American markets, according to a Bloomberg report, citing the Moroccan government’s Official Gazette. The phosphates group sees demand in Central America as increasing some 65 percent annually through 2023, Bloomberg reported.
The new company, whose creation was approved by the OCP Board of Directors in June, is named OCP Specialties Mexico, and will be based in Guadalajara, according to Moroccan news outlet Yabiladi, citing the same document.
OCP Specialties Mexico will operate as a subsidiary of OCP International Coöperative UA, Amsterdam.
The Moroccan government has also green-lighted OCP to set up a new specialties company in India, named OCP Specialties India Private, based in Mumbai, Yabiladi reported. The new firm will also operate as a subsidiary of OCP International Coöperative UA.
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