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Market Chatter: Indonesia Plans Up to 500,000 Tons of Urea Fertilizer Exports to Australia

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Indonesia is looking to export up to 500,000 tons of urea fertilizer to Australia under a cooperation deal worth 7 trillion rupiah, The Jakarta Globe reported Friday.

"Our initial plan is to export 250,000 tons to Australia and later increase it to 500,000 tons," Agriculture Minister Andi Amran Sulaiman said.

Indonesia's first fertilizer shipment to Australia, which was recently completed, carried 47,250 tons of fertilizer worth 600 billion rupiah.

Other countries, including India, which has requested 500,000 tons, the Philippines, Brazil, and Bangladesh are also interested in fertilizer from the country, the minister added.

The government is working toward revamping the fertilizer industry with seven major projects valued to 72.8 trillion rupiah, according to the report citing Amran.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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