The international prices of ammonium phosphate are stable

Writer： MAYHARVEST Time：2023-11-11 22:19:09 /p>

Here are this week's international monoammonium phosphate news

India

The price of DAP in India was stable at CFR590 USD/ton. According to a procurement tender on Nov. 6, the NFL received an offer for 50,000 tons of DAP at a price of CFR595.10 USD/ton for the east coast of India. The price of a trading company is in line with the deal struck last week. The NFL made a counteroffer at a much lower price of $490 per ton in an attempt to send a clear signal to the market that demand was weakening and that price levels were expected to decline. The NFL has asked for 100,000 tons of DAP to be shipped by Nov. 30. Another importer, RCF, will close the tender on November 11 to buy 45,000 tonnes of DAP and ship it by December 10. Following the import of 569,000 tons in October, the total import of DAP in November will reach 818,000 tons.

Pakistan

Pakistan DAP prices remain unchanged. The buying price is around CFR610 USD/ton. A shipment of 27,000-28,000 tons of DAP from China is scheduled to arrive in Karachi on November 21. According to local sources, domestic DAP consumption has remained relatively strong throughout the rabi season so far, prompting speculation that there will be more import purchases in December. DAP from private dealers is quoted at Rs 12,200-12,600 per ton (except Karachi).

China

China DAP price is basically stable at FOB575-585 US dollars/ton, there is no latest transaction. Most producers halted supplies this week, citing tight export supplies as few remaining export quotas remained. Strong domestic demand has pushed up domestic prices this week, prompting producers to focus on the domestic market rather than exports. 11-44 pellets shipped to Brazil in November were priced between FOB445-450 USD/ton, but no agreement was reached in this range.

Morocco

After the Commerce Department reduced countervailing duties on phosphate imports from Moroccan producer OCP, U.S. phosphate prices could come under pressure, potentially leading to a shift in trade flows. The new rate of 2.12 percent, down from 19.97 percent to 2.12 percent, will apply retroactively to OCP shipments to the United States between Nov. 30 and the end of 2021, with a ruling on shipments from more recent years due next year. On November 1, the US Commerce Department raised anti-subsidy import duties on Russian phosphate producer Phosagro from 9.19 percent to 28.5 percent. The decision to lower the OCP rate raises the likelihood that the United States will regain its position as the main export market for the Moroccan phosphate giant. In 2019, the United States was the second largest destination market for OCP exports of DAP and MAP. In 2019, the United States accounted for a quarter of the total OCP exports of mono-ammonium phosphate and DAP phosphate, second only to Brazil, which accounted for a third. Trade data show that OCP' s DAP/MAP export quotas to the United States fell sharply after the 2021 tariffs were finalized, with the United States receiving just 6.3 percent of the company's shipments last year. Lower tariffs will affect prices and trade patterns, with broader implications for markets outside the Americas, as a potential increase in shipments to the US could reduce the supply of OCP' s DAP to the highly competitive CFR market in the Indian subcontinent.

Brazil

The price of ammonium in Brazil remains at CFR560-565 USD/ton. Spot liquidity is limited to the high end of the sales range of 5,000-6,000 tons of Russian MAP. This week, the price of MAP 11-44 will be higher, at CFR480-485 US dollars/ton. According to Conab, Brazil's state supply company, the planting schedule for the 2023-2024 soybean crop in Brazil is behind that of the previous cycle. Piaui is the only state yet to sow. As of November 4, 48.4% of the national progress has been completed. According to DirectHedge data, in the futures market, November MAP futures remained at CFR540-560 USD/ton, while December MAP futures were stable at CFR530-560 USD/ton this week. In January, DAP futures were priced at CFR550-560 USD/ton.