NCIC 2nd March Tender
Egypt’s fertiliser producer NCIC has concluded its second March-loading tender on 4 March, awarding several fertiliser lots on an FOB Egypt basis, reinforcing the sharp price rally currently sweeping global fertiliser markets.
The awards are understood as follows:
DAP, 10,000t: $780/t FOB
TSP, 10,000t: $618/t FOB
CAN, 15,000t: $352/t FOB
Urea, 10,000t: $654/t FOB
Phosphates Continue Upward Repricing
Compared with NCIC’s 19 February tender, phosphate prices have moved sharply higher.
DAP increased roughly $32–35/t, rising from the high-$740s/t FOB.
TSP surged by about $61/t, climbing from the mid-to-high $550s/t FOB range.
The upward repricing reflects tightening spot availability and strengthening benchmarks across key phosphate trading hubs.
Nitrogen Records Higher Surge
The most dramatic move was seen in urea, which cleared at $654/t FOB, representing a ~$166/t increase from NCIC’s previous tender two weeks earlier, when urea traded in the high-$480s/t FOB range. The level aligns closely with the latest transactions emerging across major producing regions. Recent deals include:
Dangote (Nigeria): $655/t FOB for April loading
Mopco (Egypt): $655/t FOB for prompt March shipment
Algeria: ~$679/t FOB reported for April cargoes
CAN also registered a significant repricing. NCIC awarded 15,000 tonnes at $352/t FOB, up from the mid-$270s/t FOB recorded in the company’s 19 February tender. The roughly $75–80/t increase underscores the broad tightening across nitrogen markets, with nitrate products following the sharp rally observed in urea as producers and traders adjust offers amid rising energy risk and supply uncertainty.
Together, these trades confirm a rapid global repricing of nitrogen following escalating geopolitical risk in the Middle East and disruptions to regional supply expectations.
Unusual Return to the Market
Notably, NCIC had already concluded a March-loading tender on 24 February yet returned to the market within just over a week to secure additional end-March loading volumes.
Such a quick return is highly unusual in NCIC’s tendering history and may indicate both tight near-term procurement requirements and willingness to pay.
AFRIQOM Market Reporter
