Phosphate Fertilizer Production and Operating Rates in January 2024

Monoammonium Phosphate Production: In January 2024, domestic production of monoammonium phosphate was approximately 878,100 tons, a decrease of 112,200 tons from the previous month, marking an 11.33% month-on-month decrease; compared to the same period last year, the production decreased by 10,550 tons, a 10.73% year-on-year decrease. The decline in production can be attributed to poor order intake at mono ammonium phosphate factories, continuous increase in enterprise inventory, an increase in production reduction and shutdowns, and a gradual transition to production halts and holidays, resulting in a significant reduction in mono ammonium phosphate production for the month.

Monoammonium Phosphate Operating Rate: The operating rate of the domestic monoammonium phosphate industry in January 2024 was approximately 49.85%, a 3.43% decrease month-on-month and a 12.80% decrease year-on-year.

Diammonium Phosphate Production: In January 2024, the domestic monthly production of diammonium phosphate was approximately 1,190,000 tons, an increase of 56,000 tons from the previous month, representing a 4.94% month-on-month increase; compared to the same period last year, the production increased by 17,000 tons, a 16.67% year-on-year increase. This month, diammonium phosphate enterprises continued to prioritize domestic supply, with winter storage orders gradually being followed up, some regional maintenance facilities gradually resuming, a slight increase in industry operating rates, and an increase in diammonium phosphate supply.

Diammonium Phosphate Operating Rate: The operating rate of the domestic diammonium phosphate industry in January 2024 was approximately 55.73%, a 10.02% decrease month-on-month and a 4.82% decrease year-on-year.