DAP (diammonium phosphate) prices have been moving higher from levels observed in late 2016 and early 2017. In the week ending January 19, DAP prices were broadly mixed week-over-week at the locations discussed below.
In the US, DAP prices at two locations rose last week. Central Florida saw a 2.2% increase in DAP prices week-over-week to $338 per metric ton from $331 per metric ton. In Tampa, DAP prices rose 0.5% week-over-week to $395 per metric ton from $393 per metric ton. In NOLA (New Orleans), DAP prices moved in the other direction with a 1.1% fall week-over-week to $326 per metric ton from $329 per metric ton.
DAP prices in India also moved higher last week by 1.8% week-over-week to $401 per metric ton from $394 per metric ton. At three of the locations, DAP prices remained unchanged last week:
- Prices in Morocco stayed at $402 per metric ton.
- Prices in Saudi Arabia stayed at $405 per metric ton.
- Prices in China stayed at $410 per metric ton.
The year-over-year price movements remain strong for phosphate companies (MOO) such as Mosaic (MOS), Nutrien (NTR), and Israel Chemicals (ICL). For example, in India, prices rose 21% last week. In Tampa and Saudi Arabia, prices rose 20% at each location over the same period. In Morocco and China, the prices rose by 18% year-over-year at each location, and in NOLA and Central Florida, the DAP prices rose 15% at each location last week.
Next, we will discuss the prices for MAP (monoammonium phosphate) fertilizers.