The international DAP/MAP Market

Pakistan, India, Brazil continue to purchase 

Indian continue to purchases this week. Pakistan purchased four vessels of DAP, and maybe they will purchase two more vessels at a CFR price of US$568-569/ton. At present, India's import volum have reached 828,000 tons in June, almost same as the 835,000 tons in June 2020.

China's DAP continues to dominate the Indian and Pakistani markets, while there is almost no goods supplied from OCP Moroccan. OCP is loading the last ship of NPS in a tender in Ethiopia currently and has sold a large amount of cargo to Brazil.

The market activity in Latin America decreased, and the CFR price of MAP in Brazil rose from US$610-620/ton to US$615-625/ton.

Supported by rising food prices, the Brazilian market has positive sentiment.The demand in Argentina continues to increase, and it is expected that there will be import demand in the next few weeks.

Due to the increase in Nola barge prices, LatAm prices will contine to rise. In the east of Suez, Suppliers are preparing for the Bangladesh tender at the end of the month now. India's import demand in the market outlook is still very good.