Diammonium phosphate prices
Last week, DAP (diammonium phosphate) prices were broadly flat to positive WoW (week-over-week) and much higher YoY (year-over-year). WoW, Central Florida DAP prices rose 51 basis points to $358 per metric ton from $357 per metric ton, and YoY, they rose ~20% from $297 per metric ton. Similarly, DAP prices in Morocco rose 48 basis points WoW to $420 per metric ton from $418 per metric ton, and 13% YoY from $373 per metric ton.
DAP prices in China and India rose about 24 and 23 basis points WoW, respectively, to $412 per metric ton from $411 per metric ton and to $429 per metric ton from $428 per metric ton. In China, DAP prices rose 17% YoY, and in India, prices rose 17% YoY.
In Tampa and Saudi Arabia, DAP prices were flat WoW, at $408 per metric ton and $420 per metric ton, respectively. They rose 14% and 20% YoY.
DAP prices fall in New Orleans
In contrast, NOLA (New Orleans) DAP prices fell 26 basis points WoW to $349 per metric ton from $350 per metric ton, and rose ~25% YoY from $279 per metric ton.
Higher DAP prices helped fertilizer companies (MOO) such as The Mosaic Company (MOS) and Nutrien (NTR)(POT)(AGU) in their recent quarters. To learn more, read Mosaic Stock Down after Its 1Q18 Earnings Results. In the next part, we’ll discuss monoammonium phosphate prices.