DAP prices in the eastern region have declined, while MAP prices in Brazil have increased

The procurement activities in India recently have slowed down and prices are still declining, while MAP from Russia is being sold to Brazil at higher prices.

The CIF price of DAP in India has decreased from $450- $453/ton cfr last week to $440/ton. According to the inquiry on July 3rd, importer Smartchem purchased 35000 tons of Chinese DAP at $440 per ton, while a trading company sold 30000 tons of Chinese products at $440 per ton and immediately shipped them to another importer. The offshore price of DAP in China has dropped to $420- $425 per ton, a decrease of $20 compared to last week. Bangladesh has re-issued procurement bids for 400000 tons of DAP and 200000 tons of TSP, scheduled for July 20th.

DAP prices in Europe are stable. NCIC confirmed that according to last week's sales bidding, DAP was sold at a mid to high price of $480 per ton. A trading company may have purchased MAP goods from Tunisia and shipped them to the Americas, which will be loaded in mid July.

To the west of Suez, the Brazilian MAP rose to $440-450/t cfr, up $10/t from last week, of which the Russian MAP sold 30000 tons at the low end in July and 16000 tons at the high end in August. DAP/MAP sales in Argentina are also continuing.

The price of DAP is weak, while the trend of MAP is firm

India's DAP inventory continues to grow, and prices are expected to continue to decline. It remains to be observed whether the importer will participate in the bidding process in Bangladesh. Pakistan is very quiet. Brazil will continue to purchase MAP, but prices are unlikely to rise significantly. Considering the number of MAP purchases already made, the market's strength will briefly remain strong until August.