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Asia Naphtha-India's MRPL fetches higher premiums

SINGAPORE, Oct 12 (Reuters) - India's Mangalore Refinery and Petrochemicals Ltd sold 35,000 tonnes of mid-November naphtha to Unipec at about $39-$40 per tonne above Middle East quotes on a free-on-board (FOB) basis, up 14-15 percent from a previous sale, traders said on Friday.

The cargo is scheduled for Nov. 13-15 loading from New Mangalore port. MRPL had previously sold similar volumes but for Nov. 7-9 loading from the same port to PetroDiamond at $34-$35 a tonne premiums.

Traders could be covering their short supply positions and other than India, there were limited spot sale outlets to turn to in Asia.

India remains the key spot exporter of naphtha but its September exports fell to more than a three-year low of less than 550,000 tonnes before recovering to above 800,000 tonnes in October.

(Reporting by Seng Li Peng; Editing by Gopakumar Warrier)

((lipeng.seng@thomsonreuters.com)(+65 6870 3086; Reuters Messaging: lipeng.seng.reuters.com@reuters.net))

Keywords: NAPHTHA INDIA/MRPL