IFFCO Stand on Price Negotiations of Phosphoric Acid for FY 2016

Phosphoric Acid price negotiation for FY16 not concluded yet: #IFFCO. Settlement of Phosphoric Acid price is still pending.

As International #DAP price is reduced to $350/MT CFR India. Hence; IFFCO say is that Phosphoric Acid price should also be lowered to $600/MT or even less than that. Currently it is around $715/MT. Suppliers are now selling the DAP at ₹350/MT or even somewhere less than that.

IFFCO say to its JV partners & suppliers to accept the provisional Phosphoric Acid price of $600/MT till price settlement is done from 1st June,16 onwards. Last year IFFCO brought around 0.825 Million MT of Phosphoric Acid at an average price of $785/MT.