Eastern Cornbelt:
Phos acid was steady at $13.95/unit rail-DEL in Illinois and $14.10/unit rail-DEL in Ohio for May tons.
Nutrien on May 28 reported that it has posted new superphosphoric acid prices at $1,200/st P2O5 rail-DEL in the Midwest for June-August shipments.
Western Cornbelt:
Phos acid pricing was unchanged at $13.85/unit rail-DEL in Nebraska, Missouri, and Iowa for May shipment.
Northern Plains:
The phos acid market remained at May levels of $13.95/unit rail-DEL in Minnesota and $14.10/unit rail-DEL in the Dakotas.
Great Lakes:
The phos acid market was pegged at $13.95-$14.10/unit rail-DEL in the Great Lakes region for May tons, with the lower end of the range confirmed in Wisconsin.
India:
Second-quarter India phosphoric acid contracts were quoted at $998/mt P2O5 CFR, up $203/mt from $795/mt CFR in the prior period.
Sources said negotiators are getting closer to a third quarter price. Reportedly, OCP/Morocco is now asking $1,004/mt CFR, while the buyers are looking at $1,001-$1,002/mt CFR.
Whatever the result, the price will be higher than last quarter and will continue to cause problems for the domestic Indian DAP producers. Each time the acid price goes up, the government calculates it is cheaper to subsidize imported DAP instead of subsidizing the domestic product.