Key facts
- Pupuk Indonesia closed a tender to buy ammonium sulphate.
- The tender was for 100,000 tons of ammonium sulphate.
- Delivery is scheduled for August.
- Fertilizer prices, including urea, are following a downward trend.
- Argus analysis was featured in the Financial Times.
- Benchmark Middle East urea prices have decreased.
- Eased disruptions around the Strait of Hormuz contributed to lower urea prices.
- The lowest offer for ammonium sulphate was reportedly around $10/t.
- The $10/t offer for ammonium sulphate is unconfirmed.
State-owned Pupuk Indonesia has concluded a tender for the purchase of ammonium sulphate, with a target volume of 100,000 tons for delivery in August. The tender's conclusion coincides with a broader downward trend observed in fertilizer prices, particularly in the urea market. Analysis from Argus, as reported by the Financial Times, indicates that benchmark Middle East urea prices have decreased. This price softening is attributed to a reduction in disruptions around the Strait of Hormuz, a key shipping route. While specific figures for the ammonium sulphate tender are not officially confirmed, reports suggest the lowest offer received was approximately $10 per ton. The trend in urea prices, influenced by geopolitical factors affecting shipping routes, appears to be impacting other fertilizer commodities like ammonium sulphate.