International Fertilizer and Agriculture News - August 18

Egypt’s NCIC Sells DAP, CAN and SOP via Tender

Egyptian fertilizer producer NCIC reported the following awards in its latest sales tender, which closed on August 11:
21,000 tonnes of DAP at $915-920/tonne
27,000 tonnes of CAN 26 at $250-270/tonne
500 tonnes of water-soluble SOP, bagged ex-works, at $750/tonne

The DAP price was well above the $890-900/tonne awarded in NCIC’s July 20 tender. The awarded volume was slightly above the 20,000 tonnes originally offered in this tender. CAN pricing was broadly stable at the midpoint compared with the $261/tonne awarded in NCIC’s July 1 tender, although the awarded volume was nearly three times the 10,000 tonnes originally offered. SOP pricing also rose from NCIC’s July 20 tender, when the company awarded 500 tonnes at a bagged ex-works price of $730/tonne. However, volume was only half of what was offered in this tender. No awards have yet been confirmed by buyers, and the destinations for the sold products have not been disclosed. NCIC also offered 10,000 tonnes of TSP and 30,000 tonnes of SSP, but awarded none of that volume, likely because bids came in below expectations. Brazil, the benchmark destination, has seen TSP and SSP prices come under pressure in recent weeks. Meanwhile, sulfur, a key input for phosphate production, has remained stable on deliveries to Egypt, squeezing producer margins.