Saudi Basic Industries Corp. (SABIC), nominated its March urea price at SAR 1360 a ton ($ 363) in the local Saudi market, unchanged from February, Industry sources said.
The price of Diammonium phosphate (DAP) fertilizer in March stood at SAR 2130 a ton ($568) for the 5th consecutive month.
|
SABIC’s Fertilizers prices in the local market |
||
|
DAP (SAR/tons) |
Urea(SAR/tons) |
Month |
|
2505 |
1511 |
January 2013 |
|
2505 |
1530 |
February |
|
2505 |
1530 |
March |
|
2505 |
1490 |
April |
|
2505 |
1360 |
May |
|
2505 |
1300 |
June |
|
2505 |
1193 |
July |
|
2505 |
1193 |
August |
|
2505 |
1120 |
September |
|
2505 |
1080 |
October |
|
2130 |
1120 |
November |
|
2130 |
1190 |
December |
|
2130 |
1252 |
January 2014 |
|
2130 |
1360 |
February |
|
2130 |
1360 |
March |
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. International prices for urea and DAP stood at $390 and $410 respectively as indicated by data compiled by Argaam.
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