Amid falling global prices of DAP fertiliser, Indian companies are looking to import phosphoric acid at USD 600 per tonne for producing DAP and other NPK fertilisers.
The global prices of Di-ammonia phosphate (DAP) has declined from USD 400 per tonne to USD 350 per tonne. DAP is the second most widely used fertiliser in the country after urea.
"Indian companies are negotiating the phosphoric acid prices for this fiscal. The prices should come down to USD 650 per tonne as international prices of DAP has also come down," the country's largest fertiliser firm IFFCO's Managing Director U S Awasthi said.
The country's annual requirement of phosphoric acid is at 26-27 lakh tonnes, which is mostly used to produce Di-ammonia phosphate.
The negotiations are going on for import of phosphoric acid and the domestic companies are eying prices in the range of USD 600-610 per tonne, a top official of a fertiliser firm said.
IFFCO, Zuari, Cormandel and state-run GSFC are the major importers of phosphoric acid. The companies mainly import the chemical from Morocco, Jordan and Tunisia.
According to sources, the companies will negotiate the prices of phosphoric acid at the ongoing International Fertilizer Association conference at Moscow in Russia.
