DAP Prices Rose Due to Supply Concerns after Hurricane Irma
In the week ending September 22, DAP (diammonium phosphate) prices experienced an impressive increase week-over-week. According to The Mosaic Company (MOS), the rally in DAP prices was fueled by limited availability from China and supply issues due to Hurricane Irma in the US.
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Last week, DAP prices in the US rose across all three locations in the above chart. In NOLA (New Orleans), DAP prices rose 3.5% week-over-week to $305 per metric ton from $295 per metric ton in the previous week. Last week, prices in NOLA rose 6% YoY (year-over-year) from $287 per metric ton in the same week in 2016.
Similarly, prices in Central Florida rose 3.2% week-over-week to $322 per metric ton from $312 per metric ton a week ago. Prices in Central Florida rose 8% from $298 per metric ton. Prices in Tampa rose 2.1% week-over-week to $341 per metric ton from $334 per metric ton. Last week, the prices in Tampa rose 1% YoY.
In Morocco, DAP prices rose by 57 basis points week-over-week to $350 per metric ton from $348 per metric ton and 1% YoY.
In the next part, we’ll discuss MAP (monoammonium phosphate) fertilizer prices in Brazil.