Views: 12 Author: Site Editor Publish Time: 2022-02-21 Origin: Site
Indian market remains active, US prices rise
Indian DAP importers remain active, buying at least 150,000 tonnes of DAP from Russia and Saudi Arabia this week at $917-923/t cfr, in line with previous sales, including earlier Chinese DAP cargoes , but China's export supply of phosphate still needs to go through legal inspection and approval.
In the US, higher crop prices and the upcoming application season have also pushed up prices, with MAP prices rising to $745-755/st FOB Nola as of 9 February, an average increase of $37/st from a week earlier.
In Brazil, crop prices have risen, which has brought farmers back to the market. MAP prices were largely steady.
The market is temporarily stable
While liquidity remains thin in key demand markets such as Brazil and the U.S., recent increases in crop prices and aggressive buying by farmers suggest that buyers may return to the market in the coming weeks. Market participants expect more exports from China in the coming weeks. Chinese phosphates have appeared in the Latin American market.
