RSS
Twitter
Linked In
News In
News
Linked In
RSS
https://twitter.com/Agrimoney
http://www.newsnow.co.uk/h/Industry+Sectors/Agriculture

You are viewing 1 of your 2 complimentary articles.

Register now to receive full access.

Already registered?

Login | Join us now

OCP faces cut in EU phosphoric acid prices, after India wins discount

Twitter Linkedin eCard

OCP, the Moroccan phosphates giant, looks like facing a cut on prices of phosphoric acid charged to European customers, after a deadlock over talks with Indian buyers ended with a discount.

State-controlled OCP, the world's leading phosphate exporter, is in talks, seen as unlikely to end before next week, with European customers over phosphoric acid contract prices for the July-to-September period.

After a cut in Indian values, it is now widely anticipated that European contracts will also decrease although the magnitude has yet to be determined.

OCP supplies almost half of all European Union imports of phosphoric acid, which is used predominantly as the key raw material of phosphate fertilizers, but also in the likes of rust removal products, soap, toothpaste and as a food additive.

Negotiating positions

OCP earlier this week settled its Indian phosphoric acid contract price for the July-to-September quarter at $567 a tonne, on a cost and freight basis.

That represented a decrease of $23 a tonne from the price agreed for the April-to-June quarter, and followed talks which had revealed widely distant price expectations from OCP and its buyers.

Entering the quarter, OCP in Morocco was targeting a price increase of $25-30 a tonne, whereas buyers were seeking decreases of the same magnitude.

Other suppliers were understood to be targeting rollovers.

EU imports

The EU imported 395,000 tonnes of phosphoric acid in the first four months of 2017, more or less in line with volumes for the same period of 2014 and 2016, but down from 488,000 tonnes in the same period in 2015.

April imports, at 87,847 tonnes, were notably down on the 103,078 tonnes for the same month of last year.

By Agrimoney.com

Twitter Linkedin eCard
Related Stories

US corn export sales jump, cotton data reassure

... and soybean export sales too were ahead of forecasts last week. But wheat’s performance, again, disappoints, official data show

Trade deal with US could see UK obesity soar, says former opposition farm minister

Kerry McCarthy, former agriculture minister for the opposition Labour party, turns to Mexico and Samoa for evidence to support her allegation

Morning round-up, Thursday January 4

New Zealand cheese into China... Starbucks JV... Monsanto wins glyphosate support...

Morning round-up, Wednesday January 3

Dry Argentine outlook... shares in chicken producers fall... JAB Holding eyes further acquisitions...
Home | About | RSS | Commodities | Companies | Markets | Legal disclaimer | Privacy policy | Contact

Our Brands: Comtell | Feedinfo | FGInsight

© Agrimoney.com 2017

Agrimoney.com and Agrimoney are trademarks of Agrimoney Ltd
Agrimoney is part of the Briefing Media group
Agrimoney Ltd is registered in England & Wales. Registered number: 09239069