Latin American DAP/MAP Market Increases Activeness

The transaction CFR price of MAP sold by Morocco’s OCP to Argentina was US$805/ton CFR this week, an increase of US$45/ton than the highest price of Brazil’s MAP last week.

Under the latest sales situation in Russia, Brazil's supply of goods is significantly tight, and the CFR price of MAP has risen to US$755-760/ton.

There are no transactions in the east of Suez, and Chinese companies are still concerned about potential export tariffs, and export quotations of FOB price remain at US$565-570/ton. Indian importers are still restricted by lower domestic prices, with a break-even point of US$570/ton CFR price, but the latest transaction CFR price last week was US$590/ton.

The international ammonium phosphate market is stable

It is reported that prices in the third quarter will be supported by strong demand from Argentina and Brazil. Supported by the recent surge in crop prices, the price of MAP in Latin America is still expected to rise. Bangladesh's import demand for DAP will all come from China. In order to increase domestic production, India will re-enter the market to purchase DAP. Farmers’ purchases stabilized at 3.37 million tons from January to June, and the sales fell 15% compared to last year. Sales in the same period in 2019 were only 2.2 million tons.