Saudi Basic Industries Corp. (SABIC), nominated its April urea price at SAR 1,211 a ton ($323) in the local Saudi market, SAR 149 less than March price, Industry sources said.
The price of Diammonium phosphate (DAP) fertilizer in April stood at SAR 2130 a ton ($568) for the 6th consecutive month.
|
SABIC’s Fertilizers prices in the local market |
||
|
DAP (SAR/tons) |
Urea(SAR/tons) |
Month |
|
2130 |
1252 |
January 2014 |
|
2130 |
1360 |
February |
|
2130 |
1360 |
March |
|
2130 |
1211 |
April |
SABIC, the Middle East’s largest company by market capitalization, produces urea and DAP through its subsidiaries including Saudi Arabia Fertilizers Co. (SAFCO), Ibn al-Baytar National Chemical Fertilizer Company- a joint venture between SABIC and SAFCO- as well as al-Bayroni Fertilizer Company, a joint venture with Taiwan Fertilizer.
SABIC sells its fertilizers in Saudi Arabia at the international market price.
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