Central Florida:
DAP and MAP trucks loading from Central Florida remained posted at $785/st FOB, sources said, unchanged from one week earlier. North Florida MAP trucks were noted at $780/st FOB, also steady from the previous report.
U.S. Gulf:
NOLA phosphate barges took a big step up for the week, with players describing sizable gains in nearby loadings for both DAP and MAP.
DAP barges were quoted at a $715/st FOB low for the period, a $40/st FOB increase from $675/st FOB reported previously. At the top of range, players described transactions reaching $745/st FOB, climbing from the week-ago $702/st FOB ceiling. Rumored trading in the $746-$750/st FOB range went unconfirmed on Feb. 10.
NOLA MAP was also higher, with players typically indicating a $755/st FOB high for the week, up from $713/st FOB at last report. The market’s floor was commonly referenced at $740-$750/st FOB, with most of the week’s action concentrated at $750-$755/st FOB.
The nearby DAP barge market landed in the $715-$745/st FOB range for the trading week, lifting from the prior week’s $675-$702/st FOB. NOLA MAP barges were called $740-$755/st FOB, moving up from $698-$713/st FOB at last report.
U.S. Imports:
DAP imports for July-December were up 62.2 percent, to 750,721 st from the year-ago 462,798 st. December imports firmed 1,053.7 percent, to 81,915 st from the prior year’s 7,100 st.
Australia continued to lead DAP imports with 251,973 st in the July-December period, a 65.7 percent rise from the year-ago 152,099 st. Saudi Arabia was the second largest origin with 203,181 st, up 31.7 percent from 154,257 st last year. Cargoes loading from Jordan were reported at 110,217 st, a 217.3 percent jump from 34,737 st in the prior period.
MAP/Other imports for December were off 34.5 percent, to 65,024 st from the prior-year 99,329 st. Imports totaled 540,459 st in the July-December period, however, up 23.5 percent from the year-ago 437,511 st.
Saudi Arabia retained the top MAP/Other import spot for July-December with 155,059 st, firming 148.6 percent from the year-ago 62,362 st. Jordan followed with 94,460 st, up from zero tons during the same period in 2020. Tunisia sent 81,730 st, increasing from zero tons in the July-December 2020 window.
U.S. Exports:
DAP exports were off 39.6 percent in December, to 52,641 st from the year-ago 87,164 st. July-December exports softened 25.4 percent, to 330,043 st from the year-ago 442,464 st.
December MAP/Other exports moved 17.5 percent lower year-over-year, to 154,851 st from 187,593 st. July-December volumes fell 7.7 percent, to 991,668 st from 1.07 million st noted one year earlier.
With no new spot export transactions reported out of the U.S. Gulf during the week, phosphate exports continued to hold at the market’s last-reported $810/mt FOB level.
Eastern Cornbelt:
DAP pricing edged up to $765-$780/st FOB in the Eastern Cornbelt, with MAP pegged at $775-$795/st FOB. The lower end of both ranges was reported in the Cincinnati market at midweek.
Western Cornbelt:
Spurred by strengthening NOLA barge prices, the DAP market firmed to $765-$770/st FOB in the Western Cornbelt, up from the prior week’s $710-$740/st FOB range. MAP was quoted at $780-$785/st FOB in the region, up from $735-$765/st FOB the week before. Similar levels were reported at Catoosa/Inola and St. Paul during the week.
California:
MAP pricing remained at $910-$920/st rail-DEL or FOB California warehouses in early February. One source said his company was “expecting a big decline in demand this season,” and was stocking roughly half of its normal spring MAP inventory as a result.
Pacific Northwest:
MAP pricing in the Pacific Northwest was unchanged at $907/st FOB Aurora, with delivered tons pegged at $910/st in Washington, Oregon, and Nevada, and $900/st in Idaho, Utah, and Montana.
Western Canada:
New MAP offers in Western Canada were quoted at C$1,200-$1,225/mt FOB regional warehouses, down C$20-$25/mt from last report. Delivered tons remained at C$1,230-$1,250/mt in the region, depending on location.
Saudi Arabia:
Saudi Arabia phosphate cargoes continued to be called $890-$905/mt FOB, steady from the prior report.
China:
Customs officers are beginning to allow more DAP to move out of warehouses to waiting vessels. The product released so far is all tied to existing long-term contracts between producers and end-users. No new deals have been reported.
The material slowly being released is reportedly for Thailand, India, and Australia. Pricing for the material is pegged back to October, when the restrictions on exports were implemented.
India:
Sources said buyers are no longer searching for DAP. Reportedly, the release of some contracted tons from China and the end of the season has eased concerns about DAP supplies. Any material that arrives in the next month or so will be used to build reserves for the next application season.
Brazil:
Port prices for MAP have tightened slightly to $850-$920/mt CFR. Sources said the narrowing of the range appeared to be a reaction to a stronger U.S. NOLA market during the week.
The Rondonopolis market tightened as well, with the upper end of the range dropping to $980/mt FOB ex-warehouse and the lower end rising to $973/mt FOB. The narrow range reflected the uncertainty buyers are facing going into the 2022/23 crop season.
Imports of MAP for January 2022 were reported at 107,000 mt by Trade Data Monitor, down 63 percent from January 2021 imports of 292,000 mt. The main suppliers in 2022 were Russia with 60,000 mt, and China with 26,000 mt.
Moroccan MAP almost dropped off the chart. January 2022 imports were only 12,000 mt, down from January 2021 imports of 162,000 mt. The drop confirmed reports that Morocco had been cutting back on its MAP production in favor of DAP to service buyers such as India.
These DAP buyers were facing shortages after the Chinese government-imposed restrictions on exports to bolster the domestic Chinese market.