India Buys Low-Priced Phosphate From China

The Economic Times of India reported that India has purchases 160,000 tonnes of diammonium phosphate from China at the lowest price in over six years, marking what could be a price benchmark for other purchasers.

According to the source,

Indian Potash Limited, Paradeep Phosphates Limited and Chambal Fertilisers and ChemicalsBSE 2.37 % bought the crop nutrient at $410 per tonne on CFR basis in deals done last week, sources with knowledge of the deals told Reuters.

Prices paid by India, the world’s top DAP importer, were as much as $520 per tonne in May.

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