International phosphate prices rise

Due to strong global demand, the prices of diammonium phosphate and monoammonium phosphate rose this week.

Earlier this week, the transaction price of diammonium phosphate between China and India was US$328/ton CFR, with a 180-day credit period, higher than last week’s US$313-319/ton CFR. India and Saudi Arabia signed an order for 140,000 tons at a price of US$318-320/ton CFR. In Pakistan, the price of diammonium phosphate in China rose from US$315-320/ton CFR to US$323-324/ton CFR.

To the west of Suez, monoammonium phosphate prices rose, and Morocco’s OCP sold to Brazil at a price of US$325/ton CFR, an increase of US$5-7/ton from last week. Brazilian importers have little time to replenish their warehouses before September, which has pushed prices up to US$305-310/ton CFR from June 1.

With the increase in demand in India and Brazil, especially in Pakistan, further procurement is expected, phosphate supply is still tight from July to August. Once the demand in these markets is met, the market will reach a balance between supply and demand.