US export DAP hikes $40/tonne in a week

02 November 2007 17:07  [Source: ICIS news]

LONDON (ICIS news)--US producers have enjoyed new price highs on phosphate fertilizer sales to Latin America, a spokesperson at the Phosphate Chemicals Export Association (PhosChem) said on Friday.

PhosChem sold 25,000 tonnes of diammonium phosphate (DAP) for December shipment to a south American market at $490/tonne (€338/tonne) FOB (free on board), an increase of $40/tonne from a week ago.

Prices were up $250/tonne compared with DAP values at the beginning of 2007.

Since the start of the year, the hike in DAP prices has been driven by high crop and commodity prices globally.

PhosChem indicated it was now offering at $500/tonne FOB for fresh business.

($1 = €0.69)

By: Mike Nash
+44 20 8652 3214

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