All posts by mickeybarb@charter.net

Ammonia

Ammonia, Black Sea, Eastern Cornbelt, India, Market Watch, Middle East, Northwestern Europe, South Central, Southeast Asia, Southern Plains, Tampa, U.S. Exports, U.S. Gulf, U.S. Imports, Western Cornbelt

U.S. Gulf/Tampa:

March Tampa anhydrous ammonia business was concluded at $1,135/mt CFR, the same as February. With major ammonia production cutbacks in Europe, as well as the Waggaman, La., plant offline and the new Ma’aden plant pushed back, price ideas for April are higher.

U.S. Imports:

July-January ammonia imports were up 9.8 percent year-over-year, according to U.S. Census Bureau data, to 1.54 million st from 1.41 million st. January imports were reported at 277,121 st, rising 4.4 percent from the year-ago 265,460 st.

U.S. Exports:

Ammonia exports were off 47.4 percent in July-January, to 212,205 st from the year-ago 403,137 st. January exports were noted at 24,259 st, falling 55.9 percent compared to the year-ago 55,001 st.

Eastern Cornbelt:

Sources reported brisk preplant ammonia movement in southern Illinois during the week, along with higher ammonia prices.

While Nutrien’s ammonia price at Lima, Ohio, was steady from the previous week at $1,475/st FOB, sources said CF moved its terminal pricing in Illinois and Indiana up to $1,450/st FOB, with Koch reportedly pushing prices up to $1,550/st FOB in the Eastern Cornbelt.

Western Cornbelt:

Much of Missouri experienced temperatures in the 60s and 70s as the week progressed, which allowed for a flurry of spring fieldwork and preplant ammonia application in the state. The ammonia market reportedly firmed to $1,375-$1,400/st FOB regional terminals, with the low confirmed at Beatrice, Neb., and the high at Palmyra, Mo.

Southern Plains:

The ammonia market remained at $1,250-$1,305/st FOB production points in the region, with the high reported at Coffeyville, Kan., and the low for the last confirmed business at Verdigris, Okla. Sources pegged the Pryor, Okla., ammonia market firmly at the $1,300/st FOB level for truck tons.

The last truck business out of Gulf Coast terminals was reported at the $1,150/st FOB level.

South Central:

Sources reported limited truck offers for anhydrous ammonia circulating at $1,150/st FOB Donaldsonville, La., and $1,300/st FOB Cherokee, Ala. No truck prices were reportedly being offered at El Dorado, Ark., or Midway, Tenn., at mid-month.

Black Sea:

The war in Ukraine has all exporting ports closed, leaving no market to test prices.

Reportedly, a Turkish buyer was ready to take the Russian material that was loaded on the Gas Cobia a couple of weeks ago. In the end, however, even the Turks did not want to deal with the consequences of buying sanctioned material.

Russian exports for January 2022 – before sanctions were imposed – were reported at 284,000 mt by Trade Data Monitor. This is about 11 percent down from the January 2021 exports of 318,000 mt.

Buyers were spread out in January. Belgium took 64,000 mt and Finland was recorded as receiving 47,000 mt, but sources said this tonnage was most likely re-exported from Finnish ports. In addition, Morocco took 38,000 mt, Turkey 35,000 mt, Tunisia 34,000 mt, and India 20,000 mt.

Middle East:

Late on March 17, SABIC said it sold a cargo of 25,000 mt at $1,230/mt FOB for loading the end of March. The deal came on the heels of a sale last week that moved the listed price into the $1,000s/mt FOB.

Sources said the tonnage was most likely headed to Morocco for OCP. The phosphate giant has been scanning the globe for ammonia to replace the tons it can no longer get from Russia. While the government of Morocco has not signed on to the sanctions imposed on Russia by the U.S. and the European Union, OCP appears to be staying away from Russian material, reportedly because of issues with the financing and insurance necessary to buy the product.

There are reports that OCP reached out as far as Southeast Asia to fulfil its ammonia needs. Reportedly, the company picked up 15,000 mt from Indonesia at $1,200-$1,300/mt CFR.

The weather issues that delayed allowing vessels to dock in the past week seem to have abated. Vessels laden with ammonia and phos acid are said to be heading into the ports for unloading.

Northwest Europe:

A sale of ammonia by Fertiglobe has moved the price to $1,450/mt C&F. Demand remains firm in the area even as more European plants are on the verge of closing.

The Baltic market for ammonia is virtually closed, said sources. The market price has depended on Russian material passing through Baltic state ports and Finland. With buyers refusing to take Russian product and with the Baltic states appearing to be ready to block transit of material through their territories, there is no product to test prices.

The last reported cargo of Russian material in the area was loaded on the Gas Cobia a few weeks ago. Sources said initially the vessel was to unload a small amount in Sweden and then proceed to Antwerp. However, after the sanctions were announced, buyers in both locations reportedly backed off. While the search for another buyer was underway, the ship waited at anchor near Ventspils.

The Gas Cobia is now moving toward Gibraltar. Sources said its initial destination was Turkey, but orders changed again with the vessel enroute.

India:

Buyers continue to look for ammonia, but without the urgency of just a few weeks ago. Sources said the DAP plant operators who need the ammonia seem to be waiting for a strong signal from the government that the higher costs related to production will be absorbed by the government or the selling price of DAP.

For now, the price is holding at $1,060-$1,100/mt CFR, based on spot sales from a week ago. Contract tons continue to arrive at lower price levels based on formulas.

Imports for January 2022 were reported at 120,000 mt by Trade Data Monitor. This is a 54 percent drop compared to January 2021 imports of 264,000 mt. The main suppliers were Saudi Arabia with 57,000 mt and Oman with 48,000 mt.

Southeast Asia:

The ammonia market in Southeast Asia was once considered separate from the larger ammonia markets in India and points west. However, OCP/Morocco reached from the Western Mediterranean to Indonesia for product, bursting the bubble that surrounded the area.

Sources reported that OCP purchased 15,000 mt from Indonesia. While no price was made public, sources said another deal by Petronas/Malaysia at $1,000-$1,050/mt FOB would put the Indonesia price at $990-$1,000 mt.International traders said these price levels would match with the current levels in Northwest Europe.

South Korea ammonia imports for the first two months of the year were reported at 277,000 mt by Trade Data Monitor, up 17 percent from the 237,000 mt imported during the same period in 2021. The main supplies to South Korea were Indonesia with 48,000 mt, Saudi Arabia with 41,000 mt, and Australia with16,000 mt.

February 2022 imports were reported at 113,000 mt, down 7.5 percent from February 2021 imports of 123,000 mt.

Urea

Black Sea, Brazil, China, Eastern Cornbelt, India, Indonesia, Market Watch, Middle East, Pakistan, South Central, South Korea, Southeast, Southern Plains, U.S. Exports, U.S. Gulf, U.S. Imports, Urea, Western Cornbelt

U.S. Gulf:

NOLA granular barges retreated a bit early in the week before heading back toward the $900/st FOB mark. Trades for the week were reported at $865-$905/st FOB, up from the week-ago $770-$900/st FOB.

The last done prill business continued to be called $860/st FOB.

U.S. Imports:

January urea imports were off 4.7 percent, to 420,468 st from 441,111 st in the prior year. Imports firmed 78.7 percent for July-January, however, to 3.18 million st from the year-ago 1.78 million st.

Imports from Qatar totaled 591,411 st for July-January, 8.4 percent below the year-ago 645,347 st. Algeria added 461,688, compared to zero tons sold into the U.S. one year earlier. Saudi Arabia’s 458,748 st total amounted to a 27.5 percent year-over-year increase against 359,758 st. Russia exported 454,583 st to the U.S. for the period, a 116.1 percent jump from 210,323 st in the prior-year period.

U.S. Exports:

Urea exports for July-January were down 59.2 percent, to 238,085 st from 583,002 st. Exports were reported at 85,816 st for January, however, up 395.8 percent from 17,308 st in the prior year.

Eastern Cornbelt:

Urea pricing at Cincinnati, Ohio, reportedly jumped from a low of $900-$920/st FOB early in the week to a high of $960-$980/st FOB by March 17, at least from some suppliers. Indiana sources reported river terminal pricing in the $900-$930/st FOB range at midweek.

In the Great Lakes region, new urea pricing FOB Toledo, Ohio, was reported as high as $975-$1,050/st, depending on time of shipment.

Western Cornbelt:

The urea market remained at $910-$950/st FOB in the Western Cornbelt, depending on location and time of the week, with both the high and low ends of the range reported at St. Louis, Mo., during the course of the week. Iowa sources pegged the market firmly at the $950/st FOB level at midweek.

Southern Plains:

Urea prices were reported in a broad range at $910-$955/st FOB Catoosa/Inola, Okla., depending on supplier and time of the week. The market FOB Houston, Texas, was quoted at a firm $940/st FOB as the week began.

South Central:

Urea prices in the South Central region at mid-month were quoted at $910-$920/st FOB Memphis, Tenn., $920/st FOB Convent, La., and up to $940-$945/st FOB river terminals in Arkansas, up some $20/st from last week at the high end of the range and a full $300/st above pricing levels in late February.

Southeast:

Urea prices were up significantly in the Southeast. Sources quoted the market firmly in the $940-$970/st range FOB port terminals, with the low at Savannah, Ga., and the high reported at Charleston, S.C., Wilmington, N.C., and Chesapeake, Va. Those prices were up roughly $270/st from late February, with reports of some suppliers out of product at midweek.

India:

Sources said even with urea prices on a steady upward trend, India will need to call a tender soon. Many expect to see the call come within two weeks.

International traders said the Indian government seems resigned to paying record prices. Sources noted that if an outlier comes in with a decidedly lower price, few others may be able to meet that level. Availability of product is the big issue. With China voluntarily out of the global market and Black Sea ports closed or otherwise inaccessible because of the war in Ukraine, sources said traders will have few places to go to offer tons into the tender.

Talk is already circulating in the industry that the tender prices will need to be above $1,000/mt CFR to fit into the current market. The Arab Gulf price has hit $1,000/mt FOB, and Indonesian suppliers are talking similar levels. Higher freight rates are also expected because of high fuel costs. All in all, said sources, the Indian treasury is going to take a hit in the next tender.

Even before the new fiscal year takes effect on April 1, the Indian government announced it was increasing the amount of money available for fertilizer subsidies in the new budget. Bloomberg reported the new budget will be 1.5 trillion rupees (US$20 million) from the budgeted 1.05 trillion rupees.

January 2022 imports of 966,000 mt were all from the December 23, 2021, tender that had a shipping deadline of Jan. 22. Trade Data Monitor reported that these shipments were about 3 percent lower than the 997,000 mt imported in January 2021. The urea came from major and minor producing countries, with the exception of China, which voluntarily withdrew from the global urea market.

Pakistan:

The government allowed Fauji Fertilizers to raise the price of urea by $9/mt, to $211/mt CFR. Sources said the price increase was inevitable because of higher natural gas prices.

Black Sea:

All Ukrainian ports are closed because of the Russian invasion of Ukraine. The invasion prompted insurance companies to declare the whole Black Sea a “war zone,” with insurance rates jacked up accordingly.

With the lack of any business concluded in the area, sources said it was impossible to test for prices or even availability of product.

Russian exports of urea for January 2022 were reported at 628,000 mt by Trade Data Monitor. The exports were completed before the February invasion of Ukraine and the subsequent sanctions imposed on Russian material by the U.S. and the European Union. January 2021 exports were reported at 442,000 mt.

Indonesia:

Urea prices remained steady as Kaltim prepares to ship the tons sold last week at $938/mt FOB. Sources said producers will be looking for a price closer to $1,000/mt in the next selling tender.

South Korea:

Urea imports for January-February 2022 were reported at 241,000 mt by Trade Data Monitor. This amount is 30 percent higher than the same period in 2021. The main suppliers were Qatar with 30,000 mt, China with 21,000 mt, and Indonesia with 13,000 mt.

February 2022 imports of 86,000 mt were markedly down from the 110,000 mt imported in February 2021.

Middle East:

Sources confirmed a rumored second deal last week from Oman at $990-$1,000/mt FOB. The deal moved the urea price up from the $910/mt FOB handled by OQ with Omani material.The paper market for the Arab Gulf is reported at $940/mt FOB for March and $1,025/mt FOB for April.

An Egyptian producer sold a cargo of granular urea at $1,130/mt FOB. No details of the sale were available, but sources said the most likely destination is Europe.Prills from Egypt are pegged at $1,080/mt FOB.The paper market for Egypt is reported at $975/mt FOB for March and $1,135/mt FOB for April.

North African production appears to be running smoothly. Algeria reportedly sold a cargo for Europe at $1,050/mt FOB, which fits in with earlier Egyptian deals.

China:

Sources said for all intents and purposes the Chinese urea export market is non-existent. The prices for the few tons allowed out are a mystery, said traders. The tonnage is usually shipped in containers.

Brazil:

Sources said the landed price of urea in Brazil moved up to $1,000-$1,050/mt CFR.

The rising price of urea and the limited tons available has led the Brazilian government to visit major producing countries looking for deals. Prior to its invasion of Ukraine, Russia had promised Brazil all the fertilizer it needs for the upcoming season. Following the invasion and subsequent sanctions against Russia, however, Brazilian government officials have approached other countries.

Brazilian media reported that the agriculture minister talked with Iranian officials with the hopes of securing a government-to-government deal that would circumvent the U.S. sanctions against Iran.Last year Brazil imported 200,000 mt of urea from Iran under barter-trade arrangements. This amount was down from the 500,000 mt or more imported each year in 2019 and 2020. So far this year, Brazil has brought in a cargo of 50,000 mt from Iran.

UAN

Eastern Cornbelt, Market Watch, South Central, Southeast, Southern Plains, U.S. Exports, U.S. Gulf, U.S. Imports, UAN, Western Cornbelt

U.S. Gulf:

NOLA UAN barges were reported in the $600-$630/st ($18.75-$19.69/unit) FOB range, up from the week-ago $575-$630/st ($17.97-$19.69/unit) FOB.

CF has leased several vessels to ship more fertilizer, mostly liquid nitrogen, to the U.S. coastal regions, according to a Reuters report, citing CF CEO Tony Will. He noted that a fair bit of Russian imports have come particularly to the East Coast, and CF is trying to make up for the lack of availability by moving tons there.

U.S. Imports:

UAN imports fell 3.5 percent for the July-January period, to 1.29 million st from the prior-year 1.34 million st. Imports were off 49.4 percent in January, to 88,028 st from 173,992 st.

Trinidad and Tobago moved to the top of the UAN import list in July-January, sending 516,699 st compared to the year-ago 505,979, a 2.1 percent increase. Russian imports registered at 497,073 st, down 15.2 percent from 586,308 st one year earlier. Tons originating from Canada totaled 232,917 st, a 4.9 percent increase on 222,110 st.

U.S. Exports:

UAN exports from the U.S. in January were down 84.5 percent, to 9,141 st from the prior-year 58,996 st. Exports were counted at 321,236 st for July-January, off 40.5 percent from the year-ago 540,014 st.

Eastern Cornbelt:

The UAN terminal market was quoted at $625-$645/st ($19.53-$20.16/unit) FOB regional terminals in the Eastern Cornbelt at mid-month, up slightly at the high end of the range. UAN-28 pricing reportedly firmed to $560-$565/st ($20.00-$20.19/unit) FOB Cincinnati, up $10-$30/st from the previous week.

CVR confirmed a minor glitch at its East Dubuque, Ill., ammonia plant during the week that left the facility offline for one or two days. The company sent a notice to customers that UAN truck loading at East Dubuque would be offline until 5:00 a.m. on March 28 as the company builds inventory in advance of the spring season.

Western Cornbelt:

The UAN-32 market for March-June tons was quoted at $625-$635/st ($19.53-$19.84/unit) FOB regional terminals in the Western Cornbelt, with the low reported at St. Louis.

Southern Plains:

Sources described the Southern Plains UAN-32 market as “trending higher” in mid-March. Pricing out of regional production points was quoted at $620-$630/st ($19.38-$19.69/unit) FOB, with the low at Woodward, Okla., and the high at Coffeyville. Delivered tons in central Texas were reported at the $644/st ($20.13/unit) FOB level at midweek.

South Central:

The UAN-32 market had reportedly jumped to $600-$630/st ($18.75-$19.69/unit) FOB Donaldsonville for shipments now through June, up dramatically from the $555-$585/st FOB offers confirmed in February. River terminal pricing in the Kentucky market was pegged in the $625-$635/st ($19.53-$19.84/unit) FOB range at mid-month.

Southeast:

The UAN-32 market in the Southeast firmed to a solid $650/st ($20.31/unit) FOB Savannah, Wilmington, and Norfolk, Va. The inland terminal market in Georgia climbed significantly to the $610-$620/st ($19.06-$19.38/unit) FOB level, up from the mid-$500s/st FOB just three weeks earlier.

Ammonium Nitrate

Ammonium Nitrate, Market Watch, Russia, South Central, Southeast, Southern Plains, U.S. Exports, U.S. Imports, Western Cornbelt

U.S. Imports:

Ammonium nitrate imports firmed 57.9 percent in January, to 24,174 st compared to the year-ago 15,312 st. July-January imports were up 77.4 percent, to 205,585 st from 115,864 st one year earlier.

U.S. Exports:

Ammonium nitrate exports moved up 29.0 percent in January, to 33,249 st from the prior-year 25,765 st. July-January exports softened 1.3 percent, however, to 254,716 st from the previous 258,157 st.

Western Cornbelt:

The ammonium nitrate market was pegged at $780/st FOB Lamar, Mo., and $790/st FOB St. Joseph, Mo., based on LSB’s March 10 postings.

Southern Plains:

LSB raised its ammonium nitrate posting on March 10 to $770/st FOB Pryor, up $60/st from the company’s earlier prepay price. Sources also confirmed recent offers as high as $800/st FOB Muskogee, Okla.

South Central:

A $60/st increase from LSB on March 10 pushed ammonium nitrate postings up to $750/st FOB El Dorado, Ark. Kentucky sources quoted new offers as high as $790/st FOB Ohio River terminals at mid-month.

Southeast:

The last Tampa ammonium nitrate business remained at the $750/st FOB level, but sources said there were no tons being offered in mid-March.

Russia:

Ammonium nitrate exports for January 2022 were reported at 234,000 mt by Trade Data Monitor. This amount is a slight dip from the 249,000 mt exported in January 2021.

Brazil was the main buyer at 45,000 mt. Sales totaling 61,000 mt were shipped to Baltic states, most likely for re-export to the world. The U.S. was the fourth largest taker of material at 19,000 mt.

Ammonium Sulfate

Ammonium Sulfate, Brazil, China, Eastern Cornbelt, Market Watch, South Central, South Korea, Southeast, Southern Plains, U.S. Exports, U.S. Gulf, U.S. Imports, Western Cornbelt

U.S. Gulf:

Recent ammonium sulfate barge business was quoted in the $620-$655/st FOB range, up from $620/st FOB.

U.S. Imports:

July-January ammonium sulfate imports softened 11.6 percent year-over-year, to 451,957 st from 511,230 st. January imports were down 13.3 percent, to 62,746 st from the year-ago 72,362 st.

Imports from Canada for July-January were reported at 264,650 st, off 10.6 percent from the year-ago 296,150 st. Material loading from Belgium was noted at 122,633 st, a 43.0 percent increase from 85,761 st in the prior-year period. Russia sent 24,036 st through the period, down 61.6 percent from 61,788 st one year earlier.

A substantial reduction in ammonium sulfate imports from Russia, the Netherlands, and South Korea were to blame for the reduced import totals for the July-January period.

U.S. Exports:

Ammonium sulfate exports were off 32.7 percent in January, to 41,116 st from the year-ago 61,066 st. July-January exports firmed 4.3 percent, however, to 403,000 st from the year-ago 386,236 st.

Eastern Cornbelt:

Ammonium sulfate continued to firm in the Eastern Cornbelt. Sources reported Cincinnati pricing early in the week at $670-$680/st FOB, but some suggested levels were closer to the $680-$700/st FOB level by the end of the week. Indiana sources quoted the upper end of the regional market at $690-$720/st FOB at midweek.

In the Great Lakes region, new granular ammonium sulfate offers were reported as high as $755-$805/st FOB Toledo, depending on time of shipment.

AdvanSix’s granular ammonium sulfate postings in the Midwest firmed $60/st on March 14, to $690/st FOB Granite City, Ill., and Prairie du Chien, Wisc., $695/st FOB Amherst Junction, Wisc., and $700/st rail-DEL in Illinois and Wisconsin. The company’s mid-grade postings moved up to $630/st FOB Byron and Tolono, Ill., and $640/st rail-DEL in Illinois and Wisconsin.

Western Cornbelt:

The ammonium sulfate market was quoted at $670-$700/st FOB in the Western Cornbelt at mid-month, with the lower end of the range reported at St. Louis.

New ammonium sulfate postings from AdvanSix on March 14 included $690/st FOB Winona, Minn., $700/st FOB Brooten, Minn., and $715/st FOB Sioux City, Iowa, with mid-grade referenced at $630/st FOB Winona. The company’s rail-DEL postings in Iowa and Minnesota firmed on that date to $700/st for granular and $640/st for mid-grade.

Southern Plains:

Granular ammonium sulfate pricing jumped to $665/st FOB Catoosa, with the Houston market pegged in a broad range at $580-$635/st FOB, depending on supplier.

South Central:

Ammonium sulfate prices in the South Central region moved higher at mid-month, stretching from a low of $630-$635/st FOB Memphis to a high of $685/st FOB river terminals in Arkansas, up from the last reported range of $610-$640/st FOB.

Southeast:

AdvanSix on March 14 raised its ammonium sulfate prices $60/st for all grades. New postings FOB Hopewell, Va., firmed to $620/st for granular, $590/st for mid-grade, and $570/st for standard. Standard pricing in the Florida market was pegged at the $585/st FOB level, with delivered granular tons quoted as the $685/st mark.

China:

Discussion of prices for shipments of caprolactam-grade amsul in China are all over the board.

Sources said based on the Brazil price and on discussions with Chinese exporters, the price should be at $330/mt FOB. However, when talking about netbacks form sales to Asian buyers, the price looks closer to $245-$250/mt FOB. Across the board, sources said the price has remained stable at $280-$300/mt FOB, and leaning a bit toward the upper end of the range.

Blenders are looking for more amsul as urea prices continue to rise. At the same time, sources said production in China is not as strong as it was previously, and COVID-related lockdowns affect many of the factories that turn out amsul as a byproduct.

South Korea:

Exports of ammonium sulfate for January-February 2022 were reported at 66,000 mt by Trade Data Monitor. This is about 37 percent down from the 105,000 mt exported during the same period in 2021.

The main buyers in the first two months of the year were Mexico with 32,000 mt and the U.S. at 28,000 mt.February 2022 exports were reported at 60,000 mt, up 11 percent from February 2021 exports of 54,000 mt.

Brazil:

The landed ammonium sulfate price in Brazil tightened toward the upper end of the range at $430-$450/mt CFR. Rondonopolis was reported up to $595/mt FOB ex-warehouse.

More blenders are looking to amsul as a substitute for the much more expensive and limited urea. Not only is the demand for amsul moving prices up, but sources said the increase in fuel is raising the cost to transport the product from the ports to regional manufacturers.

DAP/MAP

Brazil, Central Florida, China, DAP/MAP, Eastern Cornbelt, India, Market Watch, Morocco, Russia, Saudi Arabia, South Central, Southeast, Southern Plains, U.S. Exports, U.S. Gulf, U.S. Imports, Western Cornbelt

Central Florida:

Central Florida market players described DAP truck pricing in the $910-$950/st FOB range during the week. Truck-loaded DAP and MAP were previously noted at $785/st FOB.

MAP trucks at North Florida were reported firming to $1,000 st FOB, a $70/st increase from the week-ago $930/st FOB.

U.S. Gulf:

NOLA phosphate barges shifted higher during the week, market players indicated. Nearby DAP values were noted holding at week-ago highs, while increased buyer attention allowed MAP barges to build on the last reported highs.

Players noted nearby DAP barges topping out at $980/st FOB, on par with the prior week’s top. Most reported the bottom of the range at $940-$950/st FOB, achieved at the outset of the March 11-17 trading week, firming from the week-ago $875/st FOB floor. Early-week trading rumored at $935/st FOB went unconfirmed on March 17.

MAP barges firmed to at least $975/st FOB, just behind the DAP top and rising from the prior week’s MAP’s high of $960/st FOB. Most noted the weekly MAP bottom at $940/st FOB, increasing from the week-ago $900/st FOB low.

DAP barges were reported in the $940-$980/st FOB range for the week, rising from $875-$975/st FOB at last report. MAP barges were also up, sources said, to $940-$975/st FOB from the prior week’s $900-$960/st FOB range.

U.S. Imports:

Imports of DAP were off 53.9 percent for January, to 85,827 st from the year-ago 186,117 st. July-January imports stood at 836,547 st, however, lifting 28.9 percent from the year-ago 648,916 st.

Australia narrowly topped the DAP import list with 251,973 st in the July-January period, up 65.7 percent from the year-ago 152,099 st. Saudi Arabia added 251,683 st, up 10.8 percent from its year-ago 227,059 st total. Cargoes from Egypt were reported at 121,293 st, ahead of Jordan’s 110,217 st and up 157.7 percent from the prior year’s 47,062 st total from Egypt.

MAP/Other imports for July-January were up 16.3 percent, to 576,779 st from 495,968 st. January imports were off 37.9 percent, however, to 36,320 st from 58,457 st in January 2021.

Saudi Arabia led the MAP/Other import market for July-January with 155,059 st, rising 34.5 percent from the prior year’s 115,292 st. Russia followed with 104,716 st, up 42.3 percent from the prior year’s 73,564 st. Jordan sent 94,460 st for the fertilizer year-to-date, increasing from zero tons one year earlier.

U.S. Exports:

January DAP exports moved up 19.1 percent year-over-year, to 52,014 st from 43,664 st. July-January tons fell 21.4 percent, however, to 382,056 st from 486,128 st.

MAP/Other exports for January firmed 1.7 percent, to 227,342 st from 223,499 st. July-January shipments were down 6.1 percent, however, to 1.22 million st from 1.30 million st in the prior year.

Nothing new was noted on the spot U.S. Gulf phosphate export market, leaving pricing at the last-reported $850-$858/mt FOB level. Rising values observed from a number of Latin American markets suggested a significant price increase in the next round of business.

Eastern Cornbelt:

The DAP market was quoted at $990-$1,020/st FOB regional terminals, up from the prior week’s broad range of $950-$1,015/st FOB, with both the high and low ends of the range confirmed in Cincinnati as the week progressed.

MAP pricing was pegged at $990-$1,025/st FOB in the Eastern Cornbelt. In the Great Lakes region, sources quoted new MAP offers as high as $1,090-$1,100/st FOB Toledo.

Western Cornbelt:

The DAP market climbed to $1,000-$1,020/st FOB in the Western Cornbelt, with MAP pegged at $1,005-$1,025/st FOB. Both the high and low ends of both ranges were reported at St. Louis during the week, with Iowa sources quoting MAP solidly at the $1,025/st FOB level as the week progressed.

Southern Plains:

DAP pricing was quoted in a broad range at $975-$1,025/st FOB in the Southern Plains, with the low confirmed early in the week at Houston. The Catoosa/Inola DAP market was generally reported at $1,005-$1,025/st FOB during the week, depending on supplier.

MAP was pegged at $995-$1,030/st FOB, with the low again reported at Houston as the week began, and the high confirmed at Catoosa/Inola.

South Central:

DAP prices were higher in the South Central region, from a low of $970-$980/st FOB Memphis to a high of $1,025/st FOB terminals in Arkansas. The TSP market was pegged at $850-$865/st FOB terminals in the South Central region, up $125-$130/st since late February.

Southeast:

Nutrien’s postings for DAP and MAP firmed to $1,000/st FOB Aurora, N.C., during the week, up dramatically from the prior week’s $930/st FOB level and the $780-$800/st FOB prices that prevailed in late February and early March. Sources also reported limited DAP offers at the $1,000/st level FOB Wilmington, up from $980/st the week before.

Saudi Arabia:

Saudi Arabia phosphate cargoes were heard lifting to a wide $950-$1,030/mt FOB range in recent trading.

China:

Sources said a vessel bound for India was loaded with DAP this week. The cargo is said to be tons secured under a contract signed before China imposed export restrictions on the product in October 2021. Additional cargoes are expected to be loaded, but only on a case-by-case basis, sources said.

The price of the latest cargo reportedly was based on the pre-restriction contract. The current price is pegged at $890-$900/mt FOB, based on a new deal with an Indian buyer earlier this month.

Rumors are circulating that China will extend the export restrictions through July. The limited export program was to have ended in April. However, earlier this month the government announced a special summer fill program that would require building reserves of an additional 1 million mt before more regular exports will be allowed.

India:

Buyers are slowly getting their old DAP contracts with Chinese producers honored. At the same time, they continue to search for additional sources. Into March, Morocco was producing more DAP than MAP for sales into India.

Dependence on Morocco may soon have to end. Sources said the announcement by OCP that it would step up production most likely meant it would be shifting more production to MAP and other products that do not require as much ammonia as DAP. The loss of Russian sources of ammonia has forced OCP to look at ways to extend its ammonia supplies, sources said.

January 2022 imports of DAP were reported at 213,000 mt by Trade Data Monitor, up 169 percent from January 2021 imports of 82,000 mt. The main DAP suppliers in January were Morocco with 59,000 mt, Saudi Arabia with 55,000 mt, Jordan with 50,000 mt, and China with 48,000 mt.

Morocco:

Phosphate giant OCP announced it would increase output to 11.9 million mt this year from the existing 10.8 million mt. The notice came as ammonia supplies for OCP were in danger because of the Russian invasion of Ukraine.

Sources said the company would most likely be shifting away from DAP, which requires about 250 kg for each ton, and moving instead to MAP, which only requires 110 kg for a ton. A bigger shift is also expected to TSP and NP, which do not require ammonia in the production process.

The shift back to MAP from DAP could make major MAP buyers such as Brazil feel better about market availability.

Russia:

Exports of DAP in January 2022 were reported at 123,000 mt by Trade Data Monitor. The amount is up slightly from the 121,000 mt exported in January 2021.The main buyers were Thailand with 41,000 mt, Vietnam with 22,000 mt, and Australia with 15,000 mt.

Russian January 2022 MAP exports were reported at 321,000 mt, representing a massive jump from the 48,000 mt exported in January 2021. The main buyer was Brazil with 152,000 mt. About 62,000 mt were reportedly sent to Estonia, which sources said would most likely be re-exported. Australia and the U.S. followed with 48,000 mt and 33,000 mt, respectively.

Brazil:

Sources said new pricing ideas for MAP from OCP/Morocco have taken hold. The landed price is now pegged at $1,200-$1,260/mt CFR.

Rondonopolis is quoted at $1,350-$1,500/mt FOB ex-warehouse. The increase in pricing is tied to shortness of product and the higher transportation costs for getting the material from the ports to the regional distributors.

TSP

Market Watch, South Central, Triple Superphosphate, U.S. Gulf, Western Cornbelt

U.S. Gulf:

Sources reported TSP barge prices firming to the $800-$820/st FOB range for the week, up from $770-$800/st FOB the week before. Offers were reported at $825/st FOB on March 16.

Western Cornbelt:

After reports of spot prices spiking to more than $900/st FOB the week before, sources said most new TSP offers settled in the $860-$880/st FOB range in the Western Cornbelt at mid-month.

South Central:

The TSP market was pegged at $850-$865/st FOB terminals in the South Central region, up $125-$130/st since late February.

Phosphoric Acid

Eastern Cornbelt, India, Market Watch, Phosphoric Acid, Southern Plains, U.S. Exports, Western Cornbelt

U.S. Exports:

January wet-process phosphoric acid exports were noted at 36,534 st, rising 825.5 percent from the year-ago 3,947 st. Exports totaled 175,789 st in July-January, up 64.7 percent from the year-ago 106,716 st.

Eastern Cornbelt:

March postings for phos acid remained at $16.50/unit rail-DEL in the Eastern Cornbelt.

Western Cornbelt:

Phos acid prices were steady at $16.50/unit rail-DEL in Iowa, Nebraska, and Missouri for March tons.

Southern Plains:

March pricing for phos acid was quoted at $16.50/unit rail-DEL in the Southern Plains, up from $16.10-$16.35/unit in February, depending on location.

India:

Contracts for phosphoric acid delivered to India were priced at $1,530/mt P2O5 CFR for delivery in the current quarter, a $200/mt increase on the $1,330/mt P2O5 CFR level negotiated in the prior period. The price was good for tons loading from both Morocco and North America.

Ammonium Polyphosphate

Ammonium Polyphosphate, Eastern Cornbelt, Market Watch, Southern Plains, Western Cornbelt

Eastern Cornbelt:

Sources continued to report no current pricing offers for 10-34-0 in the Eastern Cornbelt.

Western Cornbelt:

Sources said limited 10-34-0 offers were now as high as $890-$900/st FOB in the Western Cornbelt, up significantly from the last reports of spring offers in the low-$800s/st. The upper end of the range was confirmed in Iowa.

Southern Plains:

The 10-34-0 market was quoted at $815-$825/st FOB for limited offers in the Southern Plains, with the high confirmed in Kansas. The last 11-37-0 prices in Texas were reported in the $840-$870/st FOB range, depending on location.