The price of DAP increased due to the new import business

Both India and Pakistan's DAP prices rose this week.It is said that there is 35,000 tons of DAP are sold at a CFR price of US$610-615/ton from China to Pakistan. Tt is the first transaction since the end of May, with an increase of $30/ton higher than the previous transaction. Another 80,000 tons of Saudi DAP to India at a CFR price of US$628/ton,with an increase of US$30/ton higher than the latest transaction price. However, the two markets are still in short supply, and the imports need to be increased before the rabi season from October to March of the following year. The prices of DAP in India and Pakistan are still lower than the prices in markets west of Suez.

Due to the latest sales from OCP in Moroccan, the high-end CFR price of MAP in Brazil rose to US$770/ton, it is US$5/ton higher this week. According to the data, the MAP this month is 580,000 tons as planned, which is the highest import volume in July.

Global supply is still tight. The import deamdn from Brazil is coming to an end. India and Pakistan need further import plans to avoid domestic shortages.