Brazil's MAP price goes down, while China's DAP prices rise

The price gap between the main markets of DAP and MAP has narrowed this week. The price of DAP is keep stable in high level, while the price of MAP in Latin America has weakened slightly, but the price difference is still very large. The price change is very small this week. The purchase of MAP in Brazil has slowed down, only a few companies have sales transactions, and overall demand is sluggish. The CFR price index fell to 760-770 US dollars/ton, the midpoint dropped by 3 US dollars/ton, but before the end of the application season in different countries, demand in Latin America still exists, and more transactions are expected in the next few weeks, especially in Argentina.

East of Suez, China's DAP price has strengthened after a few weeks of small fluctuations, it is the first time to rise to more than US$570/ton FOB in the past nine years. It is said that Pakistan has a new transaction of DAP, the transaction CFR price is 614 US dollars / ton. There is no new business in India, and the CFR price of DAP remains at $628/ton.

Before the start of the soybean application season, more purchases in Latin America are expected. India has to re-enter the market to purchase to increase the supply. Pakistan will have to queue up for further purchases before the peak demand in the fourth quarter.