Brazil buys US/Moroccan DAP as China supply slides

21 February 2008 14:53  [Source: ICIS news]

LONDON (ICIS news) --A combination of a lack of availability from China and the realisation that phosphate fertilizer prices will continue to strengthen, has been the catalyst in encouraging a raft of phosphate fertilizer purchases in Brazil, traders and producers said on Thursday.

 

Confirmed purchases included 36,000 tonnes of US diammonium phosphate (DAP) and monammonium phosphate (MAP) at $910/tonne (€619/tonne) CFR (cost, insurance and freight) and 50,000 tonnes of Moroccan DAP/MAP at similar prices.

 

Two 30,000 tonne cargoes of Tunisian triple superphosphate (TSP) were also sold and 30,000 tonnes of Moroccan TSP at $770-775/tonne FOB (free on board).

 

Fertilizer trader company Ameropa was offering a cargo of Lithuanian DAP at $905-910/tonne CFR.

 

A recent rise in export duties in China on phosphate fertilizers has seen availability reduced considerably in the first quarter of 2008. Last year, China supplied nearly 750,000 tonnes of DAP/MAP to the Brazilian market.

 

($1 = €0.68)

By: Mike Nash
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly