Diammonium phosphate fertilizers
After peaking the week prior, global DAP (diammonium phosphate) prices were mixed last week. Of the seven locations discussed below, only two saw DAP prices rise week-over-week, while three saw prices fall. Two locations’ prices were flat.
Movement last week
Last week, Tampa DAP prices rose 24 basis points to $420 from $419 per metric ton, while Morocco DAP prices rose 93 basis points to $434 per metric ton. In Central Florida, prices were unchanged week-over-week at $358 per metric ton, and India’s DAP prices stayed at $431 per metric ton.
In contrast, NOLA’s (New Orleans) prices fell 25 basis points week-over-week to $364 per metric ton, Saudi Arabia’s fell 47 basis points to $423 per metric ton, and China’s fell 24 basis points to $416 per metric ton.
Year-over-year, DAP NOLA prices have been strongest, rising 29%, followed by a 23% gain in China. Tampa, Central Florida, and India DAP prices have all risen 22%. In Saudi Arabia, DAP prices have risen 20% year-over-year, and Morocco DAP prices have risen 19%. These increases are positive signs for investors (XLB) in The Mosaic Company (MOS), Nutrien (NTR), and Israel Chemicals (ICL) stocks, which gave a mixed performance the week prior.