US DAP exports rise $100/tonne to record high

26 March 2008 16:36  [Source: ICIS news]

LONDON (ICIS news)--A cargo of US phosphate fertilizer has been sold for export at prices up $100/tonne from last week to reach a new record on strong demand, a trader source confirmed on Wednesday.

 

Trader company Transammonia sold 5,000 tonnes of US diammonium phosphate (DAP) fertilizer to Central America at $1,150/tonne (€736/tonne) FOB (free on board) for April shipment.

 

This was up by $100/tonne on last done business at $1,050/tonne FOB for US DAP, again sold into Central America last week.

 

The DAP will be sourced from Mississippi Phosphates, which recently returned to full production following problems on a sulphuric acid feedstock line.

 

DAP prices have now almost doubled from $600/tonne FOB Tampa at the beginning of January, fuelled by strong demand as a result of high crop prices and tight supply due to feedstock shortages.

 

($1 = €0.64)

By: Mike Nash
+44 20 8652 3214

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