The price of Nora DAP has significantly declined

The market has performed quietly this week, but the market remains bearish towards the future. In the United States, prices have declined significantly. In trade, DAP barge prices have dropped to $450 per ton FOB Nora, while MAP prices for May shipments have fallen to a low of $480 per ton.

To the east of the Suez Canal, the Indian Cabinet approved fertilizer subsidies and reduced the subsidy for DAP by 35%. But at current exchange rate, importers and manufacturers will still enjoy considerable profits. According to the latest transaction in India, DAP has decreased from $523-525/ton cfr to $511-513/ton cfr.

A major producer in southern China sold 70000 tons of DAP to India, with an FOB price below $500 per ton. Earlier in this week, there were other sales of $500 to $505 per ton. The DAP price has dropped from $505-510 per ton last week to $495-500 per ton.

The import demand in Europe has basically come to an end. North African offshore prices is same with last week. At the same time, prices in the West have also declined, and the MAP CIF price in Brazil has continued to come under pressure this week, dropping to $500-520 per ton cfr. Incofe concluded its bidding on May 17th, with the lowest DAP quotation of approximately $529 per ton of cfr.