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DAP Price Update for the Week Ended April 6

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DAP prices

In the week ended April 6, DAP (diammonium phosphate) prices at the seven locations discussed below were broadly flat to negative except in India where DAP prices rose 24 basis points week-over-week to $424 per metric ton from $423 per metric ton.

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Weekly performance

In contrast to India, DAP prices in Tampa fell week-over-week by 24 basis points to $408 per metric ton from $409 per metric ton. In Morocco, DAP prices also fell week-over-week by as much as 71 basis points to $418 per metric ton from $421 per metric ton. In China, DAP prices fell by 73 basis points week-over-week to $410 per metric ton from $413 per metric ton.

However, there were three locations that didn’t see any movements in prices on a weekly basis. These three locations include NOLA (New Orleans) in the US, which saw DAP prices unchanged week-over-week to $347 per metric ton, Central Florida, which also saw prices unchanged at $358 per metric ton, and Saudi Arabia, which experienced a sideways move in DAP at $419 per metric ton.

Overall, DAP price movements were flat to negative in the US (XLB) where companies such as Mosaic (MOS), Nutrien (NTR), CF Industries (CF), and Intrepid Potash (IPI) are active.

Yearly movements

Year-over-year, DAP prices at each of the locations remain above levels observed a year ago in 2017:

  • Tampa: prices rose 10%
  • Central Florida: prices rose 13%
  • NOLA: DAP prices rose 23%
  • Saudi Arabia: prices rose 13%
  • China: prices rose 12% 
  • Morocco: prices rose 9%
  • India: prices rose 15%

In the next article, we’ll discuss MAP (monoammonium phosphate) prices.

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