Phosphate fertilizer prices continue to decline

The CFR price of DAP in India has dropped to $525 per ton, with the latest imported source being 35000 tons from Saudi Arabia. Indorama closed its inquiry today for the purchase of up to 50000 tons of DAP and received approximately 5 quotations. RCF will finish its bidding on May 16th to purchase 50000 tons of DAP. Elsewhere, activities in Pakistan have slowed down again, and sources expect private sector bidding in Bangladesh to be released as early as next week.

According to the latest signs and quotations, the FOB price of DAP in China has dropped from $510 to $520 per ton last week to $505 to $510 per ton.

According to the latest transactions and buyer signs.In west of Suez,the Brazilian MAP has decreased from $540-555/ton cfr to $530-540/ton cfr. Argentina's procurement has slowed down, with DAP/MAP levels showing around $570 per ton cfr.

In the United States, DAP barge prices at Nora Port have risen, with spot loading FOB prices reaching $620 per ton this week. But the MAP price is relatively low, at $485 per ton FOB.

The market is still weak

Indian DAP importers will continue to purchase at lower prices to alleviate the pressure of the Rabi season starting in October. There is sufficient supply in the summer market. By the end of May, the inventory may exceed 4 million tons. The import demand from Pakistan and Bangladesh will reappear in the coming months, but prices will be in line with India's expectations and show a downward trend. The MAP market demand in Brazil will rebound, but manufacturers will compete for sales at lower prices.