Phosphate Fertilizer Daily Review: Phosphate fertilizer remains favorable, prices continue to rise

June 12, 2024, 9:21 AM

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Guide

Highlights at a glance

The Monoammonium Phosphate (MAP) and Diammonium Phosphate (DAP) markets show sustained strength as of August 21, according to Feidoodoo data. The 55% powdered MAP index rose to 2930, while granular 55% MAP held steady at 2820, and 58% powdered reached 3216.67, reflecting rising production costs and firm international prices. Manufacturers are limiting quotations due to high order backlogs, supporting short-term price stability and upward momentum. On the demand side, downstream buyers remain cautious, purchasing only as needed. Meanwhile, the DAP market sees slight price increases, with 64% granular DAP at 3640 (stable), 60% brown at 3220 (up), and 57% content at 3132.5 (stable). Strong domestic demand during the autumn wheat fertilization season overlaps with robust export demand, tightening supply. Most producers have halted new orders, intensifying a seller-favorable market. With limited supply and strong overseas follow-up, DAP prices are expected to rise further in the near term.

Monoammonium Phosphate (MAP) Price Index:
According to data from Feidoodoo, on August 21st, the domestic 55% powdered MAP index is 2930, showing an increase; the 55% granular index is 2820, remaining stable; the 58% powdered index is 3216.67, showing an increase.

MAP Market Analysis and Forecast:
Today, domestic MAP prices continue to rise. In terms of demand, MAP prices are currently at a high level, and downstream purchases are made cautiously based on immediate needs. From the manufacturer's perspective, many enterprises are currently pausing their quotations and order acceptance. Recently, most manufacturers have a large number of orders, mainly waiting to be dispatched. In terms of cost, the cost of MAP and international prices continue to rise, and it is expected that MAP prices will continue to be supported by favorable costs. Overall, as the current MAP market remains favorable, it is expected that MAP market prices will remain high in the short term.

Diammonium Phosphate (DAP) Price Index:
According to data from Feiduoduo, on August 21st, the mainstream domestic 64% granular DAP index is 3640, remaining stable; the 60% brown index is 3220, showing an increase; the 57% content index is 3132.5, remaining stable.

DAP Market Analysis and Forecast:
Today, domestic DAP market prices have slightly increased. In terms of demand, the current DAP domestic and foreign demands overlap. The domestic market is in the peak season for autumn wheat fertilization, and downstream purchases are made based on immediate needs. International demand is following up, the market supply is tight, and prices continue to rise. From the manufacturer's perspective, most enterprises are still pausing their quotations and payment acceptance. The supply of goods from enterprises is tight, and the mentality of holding merchants to cherish sales has intensified. Currently, the main shipments are for foreign exports and domestic sales orders. Overall, the DAP market is dominated by favorable factors, and it is expected that prices will continue to rise in the short term.

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