Views:8 Author:Site Editor Publish Time: 2021-09-16 Origin:Site
India's demand for DAP continues to improve
In the past week, Indian fertilizer importers purchased 285,000 tons of DAP from Morocco and China. There are still several procurement tenders that have not been awarded.
The total amount of DAP supplied by Morocco to India in September and October was 400,000 tons, which accounted for about a quarter of OCP's total Jorf Lasfar fertilizer exports in the past few months. However, the underlying subsidy basis that has allowed Indian buyers to withdraw from the market in the past few months has not changed, and domestic sales prices are still lower than international prices. There is no announcement regarding the increase in the maximum retail price until now.
In the west of Suez, U.S. prices kept stable after news of Legg Mason’s cutting production last week. The price of MAP in Brazil remained stable.
DAP price is firm, and MAP price is the same as last week
India will be the main driver of DAP prices in the coming weeks,because India is still in short of DAP. However, the MRP deadlock still exists and may weaken the upward momentum. Brazil’s bearish sentiment seems to be shifting, and some importers are worrying about the expected strong demand in the coming weeks that will lead to higher prices.