RCF announces fresh urea purchasing tender to close 11 August

Rashtriya Chemicals and Fertilizers (RCF) has issued a fresh purchasing tender to close on 11 August for up to 1.7m. tonnes of urea. 

This is to be comprised of 1m. tonnes for the west coast and 700,000t for the east coast. 

The tender requires shipment by 24 September. Offers are to be valid until 24 August. 

As detailed in Profercy reports since earlier in the week, the tender was widely anticipated and resulted in a late advance in Nola barge trading and derivatives activity on 28 July. 

This is the third such tender of the current campaign and follows the 15 April and 8 June inquiries which saw 2.5m. tonnes and 1.77m. tonnes of urea secured, respectively.

The shipment window in the most recent tender passed on 20 July with a handful of vessels that loaded west of the Strait of Hormuz yet to arrive.

Of note, this is set to be the first tender of the year through which serious participation from Chinese suppliers is anticipated. The prior inquiry saw just five cargoes committed.

The precise volumes available from China will of course influence the degree to which India will need to look to other suppliers, as it has done in prior inquiries.