How DAP Prices Performed in Week Ended December 8
Last week, which ended December 8, 2017, was broadly mixed for movements in DAP (diammonium phosphate) prices. Some regions saw weekly gains, and others moved sideways to negative.
Last week, which ended December 8, 2017, was broadly mixed for movements in DAP (diammonium phosphate) prices. While some regions saw a weekly gain, others moved sideways to negative week-over-week. Let’s look at it in more detail.
Last week, DAP prices in India rose the steepest among the locations we’re covering, rising 1.3% week-over-week to $392 per metric ton, from $387 per metric ton based on weekly prices compiled by Mosaic (MOS).
NOLA (New Orleans) followed with a 1.1% weekly rise to $324 per metric ton, from $320 per metric ton. DAP prices in China saw a similar trend with a weekly gain of 75 basis points to $403 per metric ton, from $400 per metric ton. DAP prices in Saudi Arabia rose 25 basis points week-over-week to $402 per metric ton.
In contrast to the above four locations, DAP prices in Tampa in the United States (NANR) and Central Florida were broadly flat week-over-week. In Tampa, prices moved sideways to $385 per metric ton, and in Central Florida, they moved sideways to $327 per metric ton.
Morocco was the only location in our comparison with a week-over-week decline in DAP prices. They fell 75 basis points to $398 per metric ton, from $401 per metric ton.
Note that some of the locations discussed above are not plotted on the chart.
When comparing DAP prices with last year’s levels, they appear to have held up fairly well for phosphate producers Mosaic, Israel Chemicals (ICL), PotashCorp (POT), and Agrium (AGU).
On average, DAP prices last week at three locations in the United States (Tampa, NOLA, and Central Florida) rose 19% year-over-year. In Morocco, they rose 19%, and in Saudi Arabia, they rose 28% year-over-year.
Last week in China, DAP prices rose 30% year-over-year. In India, they rose 25% year-over-year.