IFFCO Stand on Price Negotiations of Phos Acid for FY 2016

IFFCO stand on Price Negotiations of #Phosphoric Acid for FY 2016 as follows :

#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.

IFFCO has also tweeted on the same via @IFFCO_PR and Dr. US Awasthi, MD & CEO also tweeted the same information by @drusawasthi.