Views: 18 Author: Site Editor Publish Time: 2024-01-19 Origin: Site
Will India increase subsidies?
With the second quarter elections, there are rumors that the Indian government may announce phosphate subsidies earlier than in previous years to ensure fertilizer supply and allow importers to start importing programs. The inventory level of DAP in India is currently sufficient, but concerns about China's absence of supply are real, indicating that India may need to purchase from other channels.
The Brazilian market west of Suez is in a wait-and-see state, and an important industry conference will be held in Miami later this month, so prices are currently flat. But the prices in the US market are stable, with the trading price of DAP barges at $580-615 per ton, higher than the $575 per ton at the beginning of this week. MAP barge prices have been reduced by $5/ton to $625/ton.
In general, trade is scarce. Only OCP sells a small amount of products to Latin America and Western Europe, while GCT sells DAP to Türkiye.
Expected market to remain stable
The absence of DAP supply from China may give other Indian suppliers an opportunity. If Brazil returns to the market to purchase MAP after this month's regional conference. The rise in domestic prices in the United States has further driven prices for non Russian/Moroccan producers.
