In the week ending March 23, DAP (diammonium phosphate) prices were mixed week-over-week at most of the locations. However, the prices remained higher at all of the locations discussed below.
Last week, DAP prices in the NOLA (New Orleans) region of the US rose the most—compared to the other locations in the above chart. The DAP prices in the NOLA region rose by 53 basis points to $344 per metric ton from $342 per metric ton. Similarly, the DAP prices in Morocco rose by 24 basis points week-over-week to $421 per metric ton from $420 per ton a week ago.
Four locations experienced flat price movement last week. In Tampa, the DAP prices were unchanged at $412 per metric ton. Central Florida had DAP prices at $349 per metric ton. In Saudi Arabia, the prices were unchanged at $417 per metric ton. In India, the DAP prices were at $421 per metric ton week-over-week.
In contrast to these locations, China was the only location that experienced a weekly decline in prices. The prices in China declined by 48 basis points to $414 per metric ton from $416 per metric ton.
Compared to the levels observed in the same week in 2017, the DAP prices at each location remained higher YoY (year-over-year). In NOLA, the prices were up 22% YoY. In India and China, the DAP prices rose 14% and 13%, respectively. In the Central Florida and Tampa locations, the DAP prices were up 10% each. In Morocco and Saudi Arabia, the prices were up 9% and 8%, respectively. Now, we’ll see how the price movements impacted the stocks (XLB).
Mosaic (MOS), which is one of the largest phosphate fertilizer producers, is almost 14% lower compared to the levels last year. Nutrien (NTR) (POT) and Israel Chemicals (ICL) are also trading lower YoY.
Next, we’ll discuss MAP (monoammonium phosphate) fertilizer prices.