How DAP Prices Moved for the Week Ended July 8
DAP and MAP
Because ammonia is a feedstock for producing DAP and MAP, ammonia and natural gas prices, along with phosphate rock prices, affect phosphate fertilizer producers such as Mosaic (MOS), Israel Chemicals (ICL), and Agrium (AGU).
Ammonium phosphates such as DAP (diammonium phosphates) and MAP (monoammonium phosphates) are the most consumed among phosphate fertilizers globally.
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In the week ended July 8, the average price for DAP in the Cornbelt was $317 per metric ton. This was a 1.4% fall from the previous week’s $322 per metric ton. Prices touched their lowest levels since November 2011 and have declined by 24% YoY (year-over-year).
The average US Gulf NOLA (New Orleans) DAP prices also inched down by ~1% to $276 per metric ton compared to $279 per metric ton in the previous week.
Things were no different at Port Tampa Bay last week. DAP prices declined to $343 per metric ton from the previous week’s $344 per metric ton. Similar to nitrogen fertilizer prices, US Gulf Coast NOLA DAP prices at Port Tampa Bay fell by an average of 29% YoY.
Average DAP prices in China remained flat last week, at 2,676 Chinese yuan per metric ton, compared to a week earlier. Current DAP prices in China are well above their low point of 2,491 yuan two years ago.
In the next part of this series, we’ll turn our attention to the second-most-important phosphate fertilizer: MAP.