Central Florida:
With nothing new reported on the Central Florida truck phosphate market, prices continued to be quoted at the $910-$950/st FOB level for both DAP and MAP.
MAP trucks loading from North Florida were posted at $1,000/st FOB, unmoved from the prior report. Reference prices at Aurora, N.C., also remained at $1,000/st FOB for both DAP and MAP.
U.S. Gulf:
Phosphate barges loading from NOLA continued their upward march during the week, with sources reporting DAP barges trading above the $1,000/st FOB mark for the first time since Sept. 15, 2008. The NOLA market’s all-time high of $1,095/st FOB was recorded on July 21, 2008.
After several weeks in the $900s/st FOB, market players reported DAP firming from a floor of $980/st FOB up to $1,000-$1,010/st FOB during the week, rising from the week-ago $980/st FOB top.
MAP barges remained a step behind DAP. Most players cited $995/st FOB as the top of the market, rising from the week-ago $975/st FOB high, but well shy of the all-time $1,115/st FOB MAP record set on June 30, 2008. Sources reported MAP values kicking off the March 18-24 trading period at $960/st FOB.
An uncertain global supply outlook, combined with expected price increases in a number of international ammonia and sulfur markets, were likely to sustain prices through the short-term, many players argued.
The DAP barge market was quoted in the $980-$1,010/st FOB range through the week, rising from $940-$980/st FOB at last report. MAP barges were pegged at $960-$995/st FOB, up from the week-ago $940-$975/st FOB range.
U.S. Export:
Price ideas on the U.S. Gulf phosphate export markets were noted in the $1,000-$1,050/mt FOB range, with actual values likely to land higher should new business conclude today. The market was previously reported at $850-$858/mt FOB.
Eastern Cornbelt:
DAP pricing firmed to $1,000-$1,030/st FOB regional terminals in the Eastern Cornbelt, up from the prior week’s $990-$1,020/st FOB range, with the Cincinnati market pegged at $1,000-$1,010/st FOB at midweek. MAP pricing was reported at $1,000-$1,025/st FOB in the region, with the low confirmed at Cincinnati.
Western Cornbelt:
The DAP market was quoted at $1,000-$1,030/st FOB in the Western Cornbelt, up $10/st at the high end of the range, with the St. Louis market pegged at $1,000-$1,020/st FOB. MAP remained at $1,005-$1,025/st FOB in the region.
California:
New MAP postings in California were quoted at the $1,070/st FOB or DEL level, up another $50/st from the prior week and a full $100-
$150/st higher than early March pricing levels.
Pacific Northwest:
MAP pricing in the Pacific Northwest was up another $50/st or more from the previous week, to $1,060/st FOB Aurora, Ore., $1,060/st DEL in Idaho, Utah, and Montana, and $1,050/st DEL in Washington, Oregon, and Nevada.
Western Canada:
MAP prices were pegged in the C$1,400-$1,500/mt FOB range in Western Canada in late March, up dramatically from the C$1,220-$1,280/mt offers reported earlier in the month. No current DEL prices were confirmed in late March.
Saudi Arabia:
Recent Saudi Arabia phosphate pricing was heard firming to the $950-$1,120/mt FOB range, rising from $950-$1,030/mt FOB at last report.
China:
Exports of DAP are still allowed, but only to buyers with long-term contracts. Sources said no new deals are being allowed to be covered at this time.
Exports of DAP in January and February were reported at 363,000 mt by Trade Data Monitor. This represents a 9 percent drop from the 399,000 mt exported during the same period in 2021. The main buyers in the first two months of this year were India with 106,000 mt, and Thailand with 41,000 mt.
February 2022 exports of DAP were down almost 60 percent, to 114,000 mt from February 2021 exports of 279,000 mt. Bangladesh was the top buyer in February with 36,000 mt, followed by 28,000 mt to Thailand and 21,000 mt each to Japan and Australia.
Exports of MAP in January and February were reported at 101,000 mt by Trade Data Monitor, down 74 percent from the 387,000 mt exported in the same period of 2021. February 2022 exports of 48,000 mt showed an even more precipitous drop compared to February 2021 exports of 227,000 mt. Australia dominated the February purchases with 39,000 mt.
India:
DAP producers are holding off on making major production decisions, sources said, because the government is considering making changes to subsidy levels and the maximum retail price for their product. The new fiscal year begins on April 1, and new rules are expected to be in place at that time.
NFL will close a tender on March 28 for two lots of 50,000 mt each of DAP. The cargoes are to be evenly divided between East Coast and West Coast ports. The tender included calls for NPS and NPK orders as well.
In the past three months NFL has held similar tenders, but ultimately had to scrap them because of a lack of participation from the international community.
Indonesia:
A tender closed on March 23 for 135,000 mt of DAP or 16-45-0 or 16-44-0.The tender called for dividing shipment to four different companies in Indonesia between April and July.
| Receiving Company | # Lots | Quantity (mt) | Receiving Period |
| Gresik | 3 | 25,000 | End April/Early May |
| Kaltim | 2 | 10,000 | Early July |
| Kujang | 2 | 10,000 | Mid-June |
| Pusri | 5 | 5,000 | Mid-June |
Brazil:
Prices for MAP came up on limited trading. Sources put the landed price at $1,200-$1,300/mt CFR. While some deals were done at the upper end of the range, sources said the bulk of the limited business was concluded at the lower numbers.
Prices at Rondonopolis remained steady at $1,350-$1,500/mt FOB ex-warehouse. Sources said there are reports of some deals closing at lower prices, but in small volumes. A wide range of offers and counterbids indicates the price range could be higher, but the bulk of the deals seem to be in the indicated range.