Views: 20 Author: Site Editor Publish Time: 2023-05-09 Origin: Site
The CFR price of DAP in India dropped to $529 per ton, and it was shipped in mid June. Last weekend, another transaction was traded at a mid to high level of $530/ton/cfr. A major importer in Pakistan purchased 40000 tons of Moroccan DAP and shipped it in mid May.
The FOB price of ammonium phosphate in China has dropped from $528-535 last week to $510-520. In other parts of South Asia, participants expect private sector bidding in Bangladesh to be held by the end of this month.
In late May, west of the Suez Canal, the Australian DAP/MAP combination cargo was sold to the United States. In the latest transaction, the FOB price of Tampa DAP has decreased from $570/ton last week to $550/ton. Brazil's MAP fell to $540-555/ton cfr, with a quote as low as $530-540/ton cfr. Argentina's DAP/MAP followed Brazil's decline to $580 per ton cfr.
SSP prices are slightly weak, with 19% of the product prices ranging from $185 to $190 per ton cfr in Brazil.
The market is still weak
India's DAP inventory continues to increase, exceeding 4 million tons by the end of this month. Importers will continue to purchase at lower and lowerer prices. The affordability of Brazil remains stable, but MAP is still significantly higher than urea and MOP, and prices will continue to decline. Interest in MAP imports should rebound by the end of this month.
