Platts refines specifications of its Granular Urea FOB Caribbean price assessment

Platts, part of S&P Global Commodity Insights, has refined the specifications of its Granular Urea FOB Caribbean $/mt Wkly (FGUCA04) price assessment, effective Aug. 7.

Platts has amended the quantity specifications from a minimum 6,000 mt to a range of 7,000-25,000 mt.

Also, Platts has narrowed the basis location, revising the previous designation from Venezuela, Trinidad to FOB Point Lisas, Trinidad and Tobago.

Platts has also amended the timing specification from "product to be shipped up to 30 days forward" to "loading seven to 45 days forward".

Following the changes, the specifications appear as follows:

Platts originally proposed to change the quantity for the FOB Caribbean assessment to 4,000-20,000 mt in a subscriber note May 22, but will now reflect 7,000-25,000 mt, in light of market feedback. The decision was published on July 10.

This assessment appears in the Nitrogen Market Report.

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