Indian fertilizer importers raise the maximum retail price of MOP fertilizers
Published by Robyn Wainwright,
Assistant Editor
World Fertilizer,
Indian fertilizer importers Zuari and MCFL have both raised the maximum retail price of MOP fertilizers to Rs18 980/t (US$262/t).
Argus Media Group states "the hike is Rs4 580/t (US$63/t) higher than the previous MRP of Rs14 400/t. The recent depreciation of the rupee against the US dollar and the settlement of annual potash contracts $50/t higher against last year have driven the increase. Indian buyers settled the 2018-19 annual contracts at US$290/t cfr with 180 days' credit.
The rupee has fallen from Rs66.92 to the US dollar on 1 June to Rs72.48 today. In mid-August, Indian importer IPL raised the MRP from Rs14,000/t to Rs14,400/t to counter the effects of the depreciating rupee.
Read the article online at: https://www.worldfertilizer.com/product-news/18092018/indian-fertilizer-importers-raise-the-maximum-retail-price-of-mop-fertilizers/
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