Central Florida:
Central Florida DAP truck postings were unchanged at $570-$580/st FOB, sources said, while MAP firmed to $620/st FOB from $610-$620/st FOB at last report. North Florida MAP remained at the $650/st FOB level.
US Gulf:
NOLA DAP barges firmed $5/st at the top of the range, lifting to $540-$550/st FOB from last week’s $540-$545/st FOB range. MAP barges were noted at a flat $635/st FOB, however, off $5/st from the prior $640/st FOB.
US Imports:
DAP imports for July-June firmed 66.5%, to 1.66 million st from the year-ago 995,214 st. June imports rose 27.9%, to 155,094 st from 121,239 st in June 2023. July-June imports from Saudi Arabia continued at 986,112 st, followed by 355,529 st from Jordan and 126,765 st from Egypt.
June MAP/Other imports were 78,077 st, a 56.8% decline from the year-ago 180,790 st. Fertilizer year volumes totaled 953,346 st, down 1.6% from 968,913 st in the prior year. Saudi Arabia topped the seller list with 272,232 st in July-June, beating 237,231 st from Mexico. Tunisia shipped 175,777 st.
US Exports:
The latest DAP price continued to be reported at $550/mt FOB from the US Gulf. With no public MAP transactions reported in recent months, the market’s last spot business continued at the $570/mt FOB level.
July-June DAP exports were noted at 463,063 st, down 42.7% from the year-ago 808,227 st. June shipments fell 75.1%, to 29,361 st from 117,955 st in the prior June. US DAP sellers sent 95,398 st to Peru in July-June, ahead of 70,444 st to Uruguay and 59,632 st to Colombia. Brazil, Canada, and Mexico followed with 59,130 st, 49,620 st, and 48,557 st, respectively.
MAP/Other exports moved down 39.6% in June, to 55,167 st from 91,373 st in June 2023. July-June exports softened 5.9%, to 2.02 million st from the year-ago 2.15 million st. Canada received 1.66 million st of MAP from the US in July-June, ahead of 111,136 st to Australia and 49,702 st to Brazil. Colombia bought 48,305 st, ahead of 43,916 st sent to Mexico.
Eastern Cornbelt:
The DAP market continued at $595-$610/st FOB in the Eastern Cornbelt, with the low confirmed at Cincinnati. MAP remained at $690-$700/st FOB in the region.
Western Cornbelt:
DAP was quoted at $585-$610/st FOB in the Western Cornbelt, with the St. Louis market reported in the $585-$595/st FOB range. MAP slipped to $680-$700/st FOB in the region, with the low again confirmed at St. Louis.
California:
MAP pricing firmed to $770/st FOB or DEL for the latest offers in California, up $10/st from July.
Pacific Northwest:
MAP in the Pacific Northwest was quoted at $750-$760/st FOB or DEL, up $10/st from July.
Western Canada:
MAP prices in Western Canada firmed to C$1,080-$1,085/mt FOB or DEL for the latest offers, up from the previous C$1,050-$1,060/mt range.
Benelux:
The DAP market in Benelux remains seasonally inactive. In the absence of new business, DAP pricing was unchanged at $672-$678/mt FCA.
Morocco:
No changes to Moroccan DAP prices were confirmed this week, with range-bound sales totaling some 30,000 mt reported into continental Europe. The Moroccan DAP market was unchanged at $510-$625/mt FOB.
Baltic:
MAP prices in the Baltic were stable at $585-$595/mt FOB, reflecting netbacks from Brazilian CFR values.
India:
Last week’s deal between OCP and India, said to have been settled at $615-$620/mt CFR, was reportedly for up to 500,000-700,000 mt of DAP. Product shipments will be staggered through the end of the year.
India’s government has also reportedly approved the one-off budget increase for DAP subsidies. Even with the increase, however, the imported price will exceed the breakeven price.
Pakistan:
Pakistan has reportedly purchased another DAP cargo at $635/mt CFR, representing a slight increase from the $620/mt CFR paid earlier this month.
China:
Some port officials have reportedly received notices from the government to reject any new requests for permission to export phosphates. The notice does not affect any phosphates already approved for export, sources said.
If the ban on new export requests holds, the last of China’s phosphates slated for export will likely ship by the end of the month, one trader said.
Brazil:
MAP imports were steady at $635/mt CFR, with players reporting a slowdown in seasonal demand balanced by weak supply.
Limited availability continued to impact the inland market, though players also reported muted demand for high-concentration phosphates ahead of the 2024/25 soybean season. Rondonópolis prices narrowed to $775-$785/mt FOB from $770-$790/mt FOB.