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Phosphate Prices Continued to Struggle Last Week

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Phosphate prices

DAP (diammonium phosphate) prices continued to struggle for direction at most of the locations we’ll look at below. That pause in prices may slow down companies (NANR) such as Mosaic (MOS), Nutrien (NTR), and Israel Chemicals (ICL).

Let’s look at prices for each of the seven locations in the chart below.

Weekly performance

DAP prices in four of the seven locations in the above chart moved sideways. At Tampa, prices were flat at $435 week-over-week. At Central Florida, prices moved sideways to $386 per metric ton week-over-week. Outside the United States, DAP prices in Saudi Arabia moved sideways to $423 per metric ton, and in India, they were unchanged week-over-week at $299 per metric ton.

Two locations declined week-over-week. At NOLA (New Orleans), prices fell 47 basis points to $382 per metric ton. In China, they fell 12 basis points to $412 per metric ton.

In contrast, Morocco was the only location with a weekly gain in DAP prices, which rose 91 basis points to $444 per metric ton.

Year-over-year, DAP prices continued to be strong. Prices in NOLA rose 30%, while Morocco, Tampa, and Central Florida rose 20%–30% year-over-year. In Saudi Arabia, prices were up 16% year-over-year. In India, they rose 15%, and in China, they were up 14%.

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