Ethiopia's EABC May Shift to Purchasing Diammonium Phosphate (DAP)
The Ethiopian Agricultural Business Corporation (EABC) usually purchases large quantities of NPS and NPSB fertilizers, with Morocco's leading fertilizer producer OCP being the main supplier.
In the 2023 tender announced in August, EABC planned to procure 1.02 million tons of NPSB, 332,300 tons of NPS, and 980,000 tons of urea. However, this year, EABC might shift to purchasing diammonium phosphate (DAP), with an expected purchase volume between 800,000 and 1 million tons.
Currently, the global supply of DAP is tight, and prices remain strong. OCP has already sold 510,000 tons of DAP, expected to be shipped to India between September and November, where demand has outstripped supply due to reduced imports earlier this year. EABC is expected to issue a tender within the next two weeks.
Russia's Fertilizer Production Increased by 13% in the First Seven Months of This Year
According to data from the Russian Federal State Statistics Service (Rosstat), Russia's fertilizer production increased by 13% year-on-year from January to July 2024, reaching 16.4 million tons.
In July alone, fertilizer production increased by 6.2% year-on-year and 2.4% month-on-month. Over these seven months, ammonia production rose by 5.3% to 10.5 million tons, while sulfur production declined by 11.8% to 3.1 million tons.
For the entire year of 2023, Russia's mineral fertilizer production increased by 10.3% year-on-year, totaling 26 million tons.
India's NFL Urea Procurement Tender Ends with an Expected Minimum Bid of $340 Per Ton.
India's fertilizer importer NFL concluded its urea procurement tender on August 30, with initial feedback indicating a minimum bid of approximately $340 per ton. Prices are expected to be officially announced early next week.
Despite increased inventory due to monsoon rains, India's demand for urea imports remains strong. Based on this tender, NFL is expected to purchase at least 1 million tons of urea. Urea sales this month may reach up to 5 million tons, compared to 4.68 million tons in August of last year.
Attention: The above information is for commercial reference only due to the diversity of information collected, and Kelewell is not responsible for the authenticity of the data.
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