The week ending April 14, 2017, was flat to negative for DAP (diammonium phosphate) and MAP (monoammonium phosphate) fertilizers. In this part, we’ll discuss DAP price movements.
Overall, DAP prices in the above location fell by an average of 106 basis points week-over-week. Prices in Central Florida fell as much as 3.1% to $339 per short ton (or $308 per metric ton) from $350 per short ton (or $318 per metric ton) to $339 per short ton (or $308 per metric ton).
Similarly, prices in the US Gulf NOLA (New Orleans) fell by as much as 32 basis points to $311 per short ton (or $282 per metric ton) to $312 per short ton (or $282 per metric ton). On the other hand, prices at Tampa Bay remained flat week-0ver-week at $370 per metric ton.
Morocco, which has the largest reserve of phosphate rock, saw its DAP prices fall by as much as 79 basis points to $379 per metric ton from $382 per metric ton week-over-week.
Last week, phosphate rock prices remained unchanged week-over-week at $93 per metric ton in Morocco. In the next part, we’ll discuss MAP price movement in more detail.
Overall, prices at the above four locations rose by 83 basis points 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).
Next, we’ll look at weekly MAP price movements.