US export DAP jumps $50/tonne - producer

19 February 2008 15:11  [Source: ICIS news]

LONDON (ICIS news)--US phosphate fertilizer export prices have jumped $50/tonne due to strong demand and tight supply, a major US producer said on Tuesday.

The Phosphate Chemicals Export Association (PhosChem) sold 36,000 tonnes of diammonium phosphate (DAP) and monammonium phosphate (MAP) fertilizer to buyers in Brazil at a price netting back to $850/tonne (€578/tonne) FOB (free on board) Tampa.

This is up $50/tonne on sales made last week into central America at $800/tonne FOB.

Interest in Brazil for fertilizer imports was thought to have been stimulated by a lack of supply from China, where duties had made exports prohibitive for Chinese producers.

A realisation among buyers that prices would continue to rise also encouraged early buying.

Tampa DAP prices have now risen $250/tonne since the beginning of January.

($1 = €0.68)

By: Mike Nash
+44 20 8652 3214

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