PhosChem DAP export price breaks $600/tonne

18 December 2007 16:33  [Source: ICIS news]

LONDON (ICIS news)--The US' Phosphate Chemicals Export Association (PhosChem) has established a new price high of $610/tonne for phosphate fertilizer export, a spokesperson for the organisation said on Tuesday.

PhosChem sold 25,000-27,000 tonnes of diammonium phosphate (DAP) fertilizer at $610/tonne (€421/tonne) FOB (free on board) to Africa, the source said, a rise of $13/tonne on the previous high of $597/tonne FOB established on business to Latin America last week.

PhosChem’s next price target was $620/tonne FOB, the source added.

International DAP prices have been firm throughout 2007, rising from around $250/tonne FOB at the start of the year, due to a strong US domestic crop market and tight supply.

PhosChem comprises North American fertilizer producers Mosaic and Potash Corp (PCS).

($1 = €0.69)

By: Mike Nash
+44 20 8652 3214

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