U.S. Exports:
Wet-process phosphoric acid exports for February totaled 5,932 st, up 89.0 percent from the year-ago 3,138 st. July-February exports were quoted at 181,720 st, up 65.4 percent from the previous year’s 109,854 st total.
Eastern Cornbelt:
April postings for phos acid were quoted at the $17.50/unit rail-DEL level in the Eastern Cornbelt, up $1.00/unit from March.
Western Cornbelt:
Phos acid prices remained at $17.50/unit rail-DEL in the Western Cornbelt for April tons.
California:
April pricing for phos acid was quoted at $17.50/unit rail-DEL in California, up $1.00/unit from March, with MGA referenced at $17.70/unit FOB Lathrop.
Pacific Northwest:
Thephos acid market for April was quoted at $17.00/unit FOB Pocatello, Idaho, and $17.50/unit rail-DEL in the Pacific Northwest, up $1.00/unit from March.
India:
First-quarter phosphoric acid contracts were settled at $1,530/mt P2O5 CFR, up $200/mt from the $1,330/mt P2O5 CFR level reported for 4Q 2021.
Morocco:
Sources said OCP is now offering second quarter phos acid at $2,000-$2,200/mt CFR. To add to the stunning proposed price increase, sources said OCP is also refusing to sell its product until an arrangement has been made on the pricing.
In the past, OCP would ship the acid while quarterly talks took place. Once a deal was sealed, the buyer would pay the new price for all product shipped in that quarter. Now, OCP wants pricing set before product is shipped.
One trader noted that the phos acid would not be wasted, nor would there be a cutback in acid production. Reportedly, OCP is ready and willing to step up DAP and MAP production until the acid deal is signed.