In the earlier part of this series, we discussed that DAP (diammonium phosphate) prices rose last week. The MAP (monoammonium phosphate) prices also saw a similar trend. MAP and DAP are the most applied phosphate fertilizers. Read more in Market Realist’s Agricultural Fertilizer Industry: Your Comprehensive Overview.
Last week, MAP prices in both the locations rose on a weekly basis. In the NOLA (New Orleans) location, MAP prices rose 1% week-over-week to $393 per metric ton from $389 per metric ton a week ago. Similarly, in the Brazil location, MAP prices rose 1% week-over-week to $433 per metric ton from $429 per metric ton a week ago.
DAP prices were broadly higher YoY (year-over-year), as we discussed in the previous part of this series. Similarly, MAP prices at both the above-discussed locations were higher year-over-year. In Brazil, MAP prices rose 11% year-over-year last week, and in NOLA, prices were up 8% year-over-year.
Stronger MAP and DAP prices position fertilizer companies (NANR) like Mosaic (MOS), Nutrien (NTR) (POT) (AGU), and Israel Chemicals (ICL) to gain from the rise as a result of lower costs of production.
Next, we’ll discuss potash fertilizer prices.