Saudi Basic Industries Corp. (SABIC), nominated its May urea price at SAR 1136 a ton, SAR 75 less than April’s level, Industry sources said.
The price of Diammonium phosphate (DAP) fertilizer in May stood at SAR 2130 a ton for the 7th 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 |
2130 |
1136 |
May |
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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