The strong demand for naphtha in the Indian domestic market and plummeting exports have fetched a higher premium for India's Mangalore Refinery and Petrochemicals Ltd (MRPL) on the 30,000 ton parcel sold for January lifting from New Mangalore. The parcel has been sold to Japan's Mitsui at a higher premium of US$19/ton compared to Middle East quotes on the FOB basis for January 22-24 lifting. MRPL's previous parcel fetched a lower premium of US$15/ton. The naphtha exports from India have recently seen a year-on-year downslide in December and the future export outlook is also projected to be grim.
24-Dec-08 
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