The week ending April 21, 2017, was broadly negative for DAP (diammonium phosphate) and MAP (monoammonium phosphate) fertilizers. DAP and MAP are the two most popular phosphate fertilizers. In this part, we’ll discuss DAP price movements.
For the week ending April 21, DAP prices at the above four locations were mostly negative. Overall, prices fell by as much as 52 basis points week-over-week. Prices at the US Central Florida fell as much as 1.2% to $335 per short ton (or $304 per metric ton) from $339 per short ton (or $308 per metric ton). Similarly, prices at Tampa Bay fell as much as 1.4% to $365 per metric ton from $370 per metric ton.
Prices at the US NOLA (New Orleans) rose by as much as 96 basis points to $314 per short ton (or $285 per metric ton) from $311 per short ton (or $282 per metric ton).
Prices at Morocco, which has the largest phosphate rock reserve, saw DAP prices fall by as much as 53 basis points to $377 per metric ton from $379 per metric ton.
Overall, prices at the above four locations rose 1.1% year-over-year. Phosphate prices are still in 2017—a negative for producers (SOIL) such as Mosaic (MOS), Israel Chemical (ICL), PotashCorp (POT), and Agrium (AGU)
Last week, phosphate rock prices remained unchanged week-over-week at $93 per metric ton in Morocco.
Next, we’ll look at weekly MAP price movements.