Unlike the positive momentum in nitrogen fertilizers and urea, things weren’t as positive for DAP (diammonium phosphate) prices. Out of the different varieties of phosphate fertilizers used, DAP is one of the most popular phosphate fertilizers.
In the week ending July 21, DAP prices in the US were broadly mixed. By digging deeper, we see that DAP prices in NOLA (New Orleans) rose as much as 1.6% week-over-week to $288 per metric ton from $312 per metric ton a week ago. Last week, the prices at the Central Florida remained unchanged week-over-week at $295 per metric ton. Last week was the third straight week that prices at Central Florida moved sideways.
In contrast to the movements in the above location, the prices at Tampa Bay fell by 29 basis points week-over-week to $342 per metric ton from $343 per metric ton.
In Morocco, which has the largest resource phosphate rock, DAP prices fell last week. Prices fell by as much as 83 basis points to $358 per metric ton from $361 per metric ton.
In the next part, we’ll discuss MAP (monoammonium phosphate) prices.