Tessenderlo Clinches Fertilizer Deal With Iran
Belgian chemical producer Tessenderlo said it plans to ship fertilizer to Iran "within weeks," as the easing of Western financial sanctions has helped the Middle East country complete its first potash tender purchase in two years.
Fertilizer is not subject to international sanctions against Iran, but Tehran's isolation from most of the global banking system has significantly limited its trading, shipping and payments.
In September 2013, Iran's Agricultural Support Services Company (ASSC) issued a tender to buy 60,000 t of potassium sulphate, according to Reuters. A Tessenderlo spokesperson told the news agency that the company won the tender, which sources said was completed at around €548 ($746) per metric ton. The first of two cargoes was to be delivered by the end of January.
Unifert, a Lebanese fertilizer trading firm with offices in Europe, Iran and other parts of the Arab world, is executing the physical and financial transactions, sources told Reuters, adding that the easing of restrictions on Iran's banking system will facilitate trade and encourage future transactions.
Also in September, ASSC issued a tender to buy 210,000 t of granular triple super phosphate (GTSP), with the contract believed to have been awarded to producers in Bulgaria and China.
